Stryker Corporation

On November 4, 1894, Dr. Homer Stryker, the founder of the company, was born in Athens, Michigan.

The plant in Kiel, Germany, was established in 1904 by Ernst Pohl, an orthopaedic engineer.

Dr. Homer Stryker's invention of the Stryker Turning Frame hospital bed in 1940 revolutionized orthopedic care by allowing doctors to reposition patients while keeping them immobilized.

Stryker Corporation is a leading medical technology company that offers innovative products and services in various medical fields. The company's culture is rooted in Dr. Stryker's legacy, aiming to improve healthcare outcomes for patients worldwide.

In 1942, the manufacturing of the Wedge Turning Frame commenced, revolutionizing patient care by enabling caregivers to turn patients with back injuries while maintaining spinal immobilization.

In 1946, Dr. Stryker incorporated his business as the Orthopedic Frame Company, introducing four products including the turning frame, walking heel, surgical traction device, and cast cutter.

In 1947, The Orthopedic Frame Company patented the oscillating saw, a revolutionary tool that could cut hard cast material without harming human tissue, leading to the creation of a diverse range of surgical instruments.

In 1955, Dr. Stryker's son, Lee, took on the role of General Manager at the company, contributing to its management and growth.

In 1958, the Orthopedic Frame Company launches the Circ-O-Lectric bed, a revolutionary product that builds on Dr. Stryker's ideas and the legacy of the turning frame, marking a significant milestone in the company's product development.

Lee Stryker, along with his wife and two companions, tragically perish in a plane crash while on vacation in Wyoming. Lee had played a significant role in the growth of the company before his untimely death.

Dr. Stryker retires from his medical practice, leading to the company changing its name to Stryker Corporation.

In 1969, Lee Stryker assumes the role of President within the company, marking a significant leadership change.

In 1970, Stryker International, Inc. is organized under the leadership of William Laube, signaling the company's strategic move to develop sales forces in Canada and overseas, expanding its global presence.

Tragically, in 1976, Lee Stryker passes away in a plane crash, leading to a significant loss within the company.

In 1977, John Brown was appointed as the President and Chief Executive Officer of Stryker Corporation.

In 1979, Stryker acquired Osteonics Corp., marking its entry into the orthopaedic implant market.

In 1980, Stryker acquired Osteonics Corp. and made its entry into the orthopaedic implant market.

In 1981, Stryker made the strategic acquisition of SynOptics to expand its presence in the endoscopy business.

By 1985, Stryker achieved a significant milestone as its annual sales crossed the $100 million mark.

In 1990, Stryker achieves a milestone as its annual sales increase to $280 million.

In 1992, Stryker acquired Dimso SA, creating opportunities in the spinal fixation field.

In 1994, Stryker initiated a long-term investment in OP-1 protein/BMP-7, a collaboration with Creative BioMolecules, Inc., aiming to develop a protein for human bone growth.

In 1996, Stryker acquired Osteo SA, enabling the company to enter the orthopedic trauma market.

In 1997, Stryker Corporation purchased Howmedica, the orthopedic division of Pfizer Inc., for $1.65 billion. This acquisition significantly increased Stryker's annual sales to $1.9 billion and solidified its position as a major player in the orthopaedic implant business.

In 1998, Stryker acquired Howmedica, significantly increasing the company's annual sales to $1.9 billion.

In 1999, Stryker Corporation achieved a significant milestone with annual sales reaching $2.1 billion, solidifying its position in the market.

On January 27, 2000, Stryker Corporation restated its operating results for the year ended December 31, 1998, reducing acquisition-related charges by $30.9 million.

In 2001, Stryker commercially launched OP-1, a biotech product, envisioning a new source of growth for the company.

Around June 2002, Stryker bought the Spinal Implant Business of Surgical Dynamics for $135 million.

The Dekompressor and PCD System mark the company's entry into the interventional spine market.

In August 2004, Stryker acquired SpineCore for $120 million, a company focused on artificial spinal disks development.

In December 2005, Stryker acquired PlasmaSol Corp. for $17.5 million, a company known for its technologies enabling the sterilization of various MedSurg equipments.

In February 2006, Stryker purchased eTrauma.com, a company specializing in PACS software development, which was then included in Stryker's Endoscopy Business.

In March 2006, Stryker integrated Sightline Technologies, a Haifa-based manufacturer of gastrointestinal endoscopy devices, into its operations.

In November 2007, Stryker Corp. and Physiotherapy Associates agreed to pay $16.6 million to the U.S. Department of Justice for allegedly making false claims to federal health care programs.

As of February 2008, a dispute exists between Stryker Corporation and the U.S. Department of Justice concerning a subpoena linking the company to misconduct in the sale of products.

The company acquired Ascent Healthcare Solutions, Inc., a prominent player in reprocessing and remanufacturing medical devices in the U.S., strengthening its position in the healthcare industry.

In 2010, Stryker Corporation acquires Ascent Healthcare Solutions, Inc., a prominent company specializing in reprocessing and remanufacturing medical devices in the U.S.

In January 2011, Stryker acquired the Neurovascular Division of Boston Scientific, which includes products used for the minimally invasive treatment of hemorrhagic and ischemic stroke.

In June 2011, Stryker purchased Malvern, Pennsylvania-based Orthovita, a biomaterials company specializing in bone augmentation and substitution technologies.

In July 2011, Stryker completed the acquisition of privately held Memometal Technologies S.A., a France based company that develops, manufactures, and markets products for extremity indications based on shape memory metal alloy.

In August 2011, Stryker signed a definitive agreement to acquire privately held Concentric Medical, Inc. in an all-cash transaction for $135 million. Concentric's products include devices for the removal of thrombus in patients experiencing acute ischemic stroke.

On October 1, 2012, Kevin A. Lobo was appointed as the president and chief executive officer of Stryker Corporation, bringing new leadership to the company.

In March 2013, Stryker acquired Trauson Holdings Company Limited, a trauma manufacturer in China and a major competitor in the spine segment.

In December 2013, Stryker acquired MAKO Surgical Corporation, a company in South Florida that manufactures and markets surgical robotic arm assistance platforms.

On July 1, 2014, Stryker Corp. announced that it had agreed to buy the assets of Small Bone Innovations Inc., a company that specializes in products for small bones and joints.

FDA approval letter for the Stryker Tritanium PL Cage, a medical device manufactured by Stryker.

On April 1, 2016, Stryker completed the acquisition of Sage Products, LLC.

In May 2016, Stryker Orthopaedics utilized 3D printing technology to create patient-specific implants, revolutionizing the orthopedic industry.

On August 29, 2016, FDA announced a Class 2 Device Recall for Stryker LFIT Anatomic V40 Femoral Head.

An article providing 10 key facts about Stryker, a medical technology company.

On April 5, 2017, the U.S. Judicial Panel on Multidistrict Litigation issued a transfer order for the Stryker Orthopaedics LFIT V40 Femoral Head Products Liability Litigation.

As of May 1, 2017, Stryker Corporation reported a revenue of $12.44 billion, showcasing its significant financial success.

On May 30, 2017, the New Jersey Supreme Court designated the litigation involving Stryker LFIT CoCr V40 Femoral Heads as multicounty litigation, consolidating cases from various counties in the state.

Stryker recalled Sage unit products on August 24, 2017, impacting their guidance.

Stryker completed the acquisition of Entellus Medical on February 28, 2018.

Stryker released their financial performance for the first quarter of 2018.

In February 2019, Stryker announced it would acquire Arrinex, Inc., a manufacturer of cryoablation technology for the treatment of chronic rhinitis.

In March 2019, Stryker acquired the Israeli-based OrthoSpace, Ltd for up to $220 million.

In October 2019, Stryker acquired Mobius Imaging, LLC and GYS Tech, LLC (DBA Cardan Robotics).

In November 2019, Stryker announced it would acquire Wright Medical Group N.V. for around $4 billion, expanding into upper-body implants.

In January 2021, Stryker announced it would acquire joint replacement technology business, OrthoSensor, Inc.

In May 2021, Stryker announced the acquisition of TMJ Concepts.

In January 2022, Stryker announced it would acquire digital care business Vocera Communications for around $3 billion.

Stryker, a global medical technology company, has recalled some of its hip replacement implants due to concerns for patient safety. This action has led to the company paying billions of dollars to settle metal-on-metal hip implant lawsuits.

The all-time high Stryker stock closing price was 358.71 on March 27, 2024.