But a new sales category for Stryker’s spinal and neurovascular devices posted a 48 percent sales growth. Knee sales decreased by 2 percent while hip sales rose by 2 percent. The company attributed the sagging knee sales to an overall sales decline and not a loss in market share.
The company’s MedSurg unit, selling surgical equipment, hospital beds and stretchers, posted a 13 percent sales gain. The company’s overall profits, however, were down 4.4 percent, due to acquisition and integration-related charges.
On the orthopedic front, Stryker remains “cautious regarding the market pending evidence of a sustained improvement in the economic environment,” said Katherine Owen, vice president of strategy and investor relations, in a Wall Street Journal report.
In January, the company closed on its $1.5 billion purchase of Boston Scientific’s neurovascular business.
Read the release on the annual report for Stryker.
Read more coverage of sales of orthopedic and spine devices:
– Centinel Spine Reports 47% Increase in Q1 Sales
– Biomet Announces 3Q Net Loss of $11.6M
– RSB Spine Announces 145% Sales Increase in Q1
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