Five things to know:
1. Fourth quarter net sales grew 10.7 percent year-over-year, according to a news release. Full-year sales of $18.4 billion represents a 7.8 percent increase compared to 2021.
2. In the fourth quarter, orthopedic and spine sales grew 4.3 percent year-over-year with $2.1 billion in revenue. Knee sales grew 5.4 percent year-over-year with $552 million, and hip sales grew 6.7 percent year-over year with $375 million.
3. Fourth quarter spine sales were $297 million, a 1 percent dip compared to the same period last year.
4. For the full year, orthopedic and spine sales grew 3.5 percent compared to 2021 with $7.8 billion in revenue. Knee sales were nearly $2 billion, an 8 percent increase from 2021. Hip sales were $1.4 billion, a 5.3 percent increase from 2021.
5. Stryker expects to see 7 percent to 8 percent growth in 2023 net sales.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
