Stryker sees 80% spike in Mako users in Q1, anticipates further growth: 5 things to know

Written by Laura Dyrda | April 24, 2019 | Print  |

Stryker reported installing 35 Mako robots in the first quarter of 2019, about comparable to the same time period last year, Stryker's Vice President of Strategy and Investor Relations Katherine Owen said during the first quarter conference call, as transcribed by Seeking Alpha.

 

Five things to know:

1. The company installed 27 of the 35 robotic systems in the U.S. Last year, the company installed 28 robots all together, and 24 were in the U.S. Around 55 percent of the placements went to competitive accounts where the company had little or no market share.

2. Stryker now reports 700 Mako robots installed worldwide, including more than 550 in the U.S.

3. Surgeons performed more than 15,000 knee procedures in the first quarter using the Mako system, which is an 80 percent increase year-over-year. More than 24,000 procedures were performed using Mako technology overall.

4. The company anticipates continued strong demand and growth for the Mako technology, seeing a 30 percent increase in quarterly utilization rates year-over-year.

"With a continued healthy order book, we anticipate strong robot sales in 2019 and hospital and surgeon interest in robotic programs for orthopedics continues to increase," Ms. Owen said. "We also expect to continue to build on the clinical data that demonstrates a unique benefit of the Mako technology."

5. Stryker faces competition in the robotic orthopedics market from companies such as Smith & Nephew with the Navio robot. However, Ms. Owens said the company sees the competition as an opportunity to raise awareness and help grow overall interest in the space.

"We're the leader here," she said. "We've got robot features including haptics and the ability to do multiple joint procedures, so we expect our momentum to continue. We're seeing a ramp up in our customers, hospitals with multiple Makos, as well as new installs into hospitals. So, given where penetration rates are and given the unique features and benefits and mounting clinical data in support of our robot, we feel really bullish about outlook."

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