Stryker

Orthopaedic surgeon Homer Stryker developed medical products in a basement room at Borgess Hospital in Kalamazoo and in 1941 established a company to produce his inventions.⁠[1]

His inventions included the Wedge Turning Frame, a rubber walking heel much lighter than the cast-iron heels then in use, and a cast cutter whose oscillating saw cut through a cast without harming the skin. The company he founded was the Orthopedic Frame Company.⁠[2]

Stryker Corporation was incorporated in Michigan in 1946 as successor to that business.⁠[3]

In 1955, Homer Stryker’s son Lee joined the company as general manager; he became president and chief operating officer in 1969 and died in 1976.⁠[2]

By 1958, the year the Circ-O-Lectric bed was released, sales at the Orthopedic Frame Company had reached $1 million. The company was renamed Stryker Corporation in 1964 and became international in 1972.⁠[1]

In 1977, John W. Brown was named president and chief executive officer. In 1979, Stryker went public on NASDAQ and entered the orthopaedic implant market by acquiring Osteonics.⁠[4]

Homer Stryker died on May 5, 1980.⁠[1]

In 1997, Stryker moved its listing from NASDAQ to the New York Stock Exchange. In 1998 it bought Howmedica, the orthopaedics division of Pfizer, for $1.65 billion.⁠[4]

In February 2012, chief executive Stephen MacMillan resigned after a controversy over a romantic relationship with a former employee, and chief financial officer Curt Hartman became interim CEO.⁠[5]

On October 1, 2012, Stryker named Kevin A. Lobo, group president of Stryker Orthopaedics, as president and chief executive officer, effective immediately, and added him to the board; Hartman stayed on as an advisor to the CEO before leaving.⁠[6]

In July 2012, Stryker recalled its Rejuvenate and ABG II hip stems over potential fretting and corrosion at the modular neck junction. In November 2014 it agreed to a settlement under which patients who had revision surgery by November 3 were eligible for a base payment of $300,000, and took a cumulative charge of $1.43 billion.⁠[7]

The U.S. Securities and Exchange Commission charged that Stryker subsidiaries in Argentina, Greece, Mexico, Poland and Romania had made improper payments as far back as 2003, violating the Foreign Corrupt Practices Act. Without admitting or denying the allegations, Stryker agreed to pay more than $13.2 million, including a $3.5 million penalty.⁠[8]

On December 17, 2013, Stryker completed its acquisition of MAKO Surgical Corp., which it described as “a pioneer in the advancement of robotic arm assisted surgery in orthopaedics.”⁠[9]

On April 1, 2016, Stryker completed its acquisition of Sage Products, LLC, whose products include oral care, skin preparation and protection, patient cleaning, turning and positioning devices and heel care boots.⁠[10]

Total consideration for Sage was about $2.875 billion; that year Stryker also acquired Physio-Control International, a maker of monitors/defibrillators, AEDs and CPR-assist devices, for net consideration of about $1.299 billion. Net sales for 2016 were $11.325 billion and net earnings $1.647 billion.⁠[11]

The SEC found that Stryker’s internal controls were insufficient to detect the risk of improper payments in product sales in India, China and Kuwait, in violation of the books-and-records and internal accounting controls provisions of the FCPA. Without admitting or denying the findings, Stryker agreed to pay a $7.8 million penalty.⁠[12]

On November 11, 2020, Stryker completed its acquisition of Wright Medical Group N.V., a medical device company focused on extremities and biologics, adding it to Stryker’s trauma and extremities business. Kevin Lobo said: “This acquisition enhances our global market position in trauma and extremities.”⁠[13]

The deal was completed through a tender offer at $30.75 per share; about 96% of Wright Medical’s ordinary shares were tendered, after which Wright became a wholly owned Stryker subsidiary and was delisted from Nasdaq.⁠[14]

On February 23, 2022, Stryker completed its acquisition of Vocera Communications, which it described as “a leader in digital care coordination and communication.”⁠[15]

The deal, announced in January 2022, was valued at about $3.1 billion, or $79.25 per share in cash.⁠[16]

On February 19, 2025, Stryker completed its acquisition of Inari Medical, entering the peripheral vascular segment. Inari provides solutions for venous thromboembolism (VTE) clot removal without the use of thrombolytic drugs.⁠[17]

The acquisition was carried out through a tender offer at $80.00 per share in cash, in which about 81.69% of Inari’s outstanding shares were tendered; the merger closed the same day and Inari became a wholly owned Stryker subsidiary.⁠[18]

On April 1, 2025, Stryker completed the sale of its U.S. spinal implants business to Viscogliosi Brothers, LLC, which made the purchase through a newly created entity, VB Spine, LLC.⁠[19]

Stryker’s net sales for 2025 rose 11.2% to $25.1 billion, and full-year net earnings were $3.246 billion (2024: $2.993 billion), or $8.40 per diluted share.⁠[20]

In 2025, MedSurg and Neurotechnology accounted for 62% of net sales and Orthopaedics for 38%; at year-end the company had about 56,000 employees.⁠[3]

On March 11, 2026, Stryker disclosed a global network disruption to its MicrosoftMicrosoftMicrosoft is a technology company founded by Bill Gates and Paul Allen in 1975 and headquartered in Redmond, Washington, with businesses spanning Windows, Microsoft 365, Azure, enterprise software, artificial intelligence, gaming and devices.Open the full entry environment caused by a cyberattack. It later said this “was not a ransomware attack” and that its connected products were not affected and were safe to use. The incident was contained by March 15, and on April 1 the company said it was fully operational across its global manufacturing network.⁠[21]

The pro-Iranian group Handala claimed responsibility, though neither the company nor any cybersecurity agency confirmed that an Iranian group was behind the attack. Many employees worldwide were unable to work, and a person familiar with the matter said up to 95% of computers and devices in some offices were wiped. Stryker shares fell 3.6% on March 11.⁠[22]