4 pillars of Stryker's growth strategy from CEO Kevin Lobo

Spinal Tech

Since Stryker CEO Kevin Lobo took the helm in 2012, the company has nearly doubled revenues. Mr. Lobo discussed his strategy at the Chief Executive's Healthcare CEO Summit earlier this month.

Four key notes:

1. Stryker has an aggressive acquisition strategy that prizes add-ons to fit into its existing business so the company can strengthen its position in all lines. "We want to be absolute leaders in the field," Mr. Lobo said at the event.

2. Research and development is an important aspect of the company's acquisitions to ensure the technology is sound. Mr. Lobo reported Stryker spends around 6.5 percent of revenue on R&D, according to the report.

3. Mr. Lobo prizes de-risked buys and would rather spend extra on acquiring technology he knows will work and then apply Stryker's expertise to scale manufacturing.

4. Finally, Mr. Lobo attributed the company's success to the autonomy he gives divisional leaders to innovate and identify the best deals to present at headquarters.

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