Five notes from 2020:
1. Stryker closed its acquisition of Wright Medical Nov. 11. Stryker received regulatory approvals for the acquisition earlier that month. Shortly after the transaction, it priced a $600 million senior notes offering.
2. Stryker added Giovanni Caforio, MD, to its board of directors on Dec. 1. Since 2015, Dr. Caforio has served as CEO of biopharmaceutical company Bristol Myers Squibb. He assumed the role of chair of the board in 2017.
3. Stryker had seven spine devices that were granted 510(k) clearance by the FDA. Some include the Monterey AL Interbody System, SpineJack expansion kit and Yukon OCT Spinal System.
4. The COVID-19 pandemic affected Stryker’s operations and culture, CEO Kevin Lobo said during a forum in August. Shifts included taking a more empathetic approach to leadership, taking regular global calls and continuing new innovations.
5. Mr. Lobo took a 50 percent pay cut, and other executives had pay reductions due to the pandemic. Stryker’s net sales were up 2 percent in the first quarter, but the pandemic had a “significant negative impact.”
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