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Stryker (SYK) Buys OrthoSensor to Grow in Sensor Technology
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Stryker Corporation (SYK - Free Report) recently announced the acquisition of privately-held OrthoSensor –focused on applying digital technologies and big data to total joint replacements. Notably, OrthoSensor’s VERASENSE intraoperative sensor has been used with Stryker’s Triathlon knee system since 2011.
The buyout reflects Stryker’s efforts to move to digitalization of sensor technology for joint replacement, boosting the company’s Orthopaedic business.
The financial terms of the deal have been kept under wrap.
OrthoSensor at a Glance
Headquartered in Dania Beach, FL, OrthoSensor is a leader in the digital evolution of musculoskeletal care and sensor technology for total joint replacement. With sensor-assisted technology and providing real time cloud-based data, OrthoSensor aims to improve clinical and economic outcomes for patients and healthcare stakeholders.
Significance of the Deal
The addition of the OrthoSensor total joint replacements line-up to its legacy Orthopaedics product range and is expected to help Stryker advance in the field of smart device technologies, including intraoperative sensors, wearables and smart implants. With this and based on its real-time measurement on key performance, the company expects to provide improved patients’ recovery outcome and guaranteed satisfaction.
OrthoSensor quantifies in intelligent sensor technology coupled with expanded data analytics and increasing computational power that will strengthen Stryker’s digital ecosystem. The acquisition of OrthoSensor allows Stryker to empower surgeons with comprehensive data-driven solutions.
Looking further, Stryker hopes to see OrthoSensor complement its leading Mako SmartRobotics to enhance robotic workflow through one complete data-driven feedback mechanism alongside MotionSense remote patient monitors, wearables and analytics.
Notable Developments
In November 2020, Stryker acquired a global medical device company -- Wright Medical. The company is a recognized leader in the upper extremities (shoulder, elbow, wrist and hand), lower extremities (foot and ankle) and biologics market segments, which are among the fastest growing segments in orthopaedics. The acquisition expands Stryker’s global position in trauma and extremities, providing significant opportunities to enhance patient base.
In the last quarter, Stryker’s Orthopaedics business reflects impressive performance with an international growth of 8% and growth of 9.2% in U.S. The U.S performance includes growth of 8.9% in knees, including high demand for Mako TKA knee platform.
Industry Prospect
Per a report by Allied Market Research, the global orthopaedic implants market is expected to reach $66,636 million by 2025, at a CAGR of 4.7%. The demand for orthopaedic implants has increased significantly owing to the rise in demand for advanced therapies, minimally-invasive procedures and surge in patient awareness toward the use of orthobiologics.
Price Performance
Shares of the company have gained 15.2% in a year’s time compared with industry’s growth of 4.9%.
Zacks Rank and Key Picks
Currently, Stryker carries a Zacks Rank #3 (Hold).
InMode has a projected long-term earnings growth rate of 28.09%.
Owens & Minor has a projected long-term earnings growth rate of 48.90%.
Quidel has an estimated long-term earnings growth rate of 25%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Image: Bigstock
Stryker (SYK) Buys OrthoSensor to Grow in Sensor Technology
Stryker Corporation (SYK - Free Report) recently announced the acquisition of privately-held OrthoSensor –focused on applying digital technologies and big data to total joint replacements. Notably, OrthoSensor’s VERASENSE intraoperative sensor has been used with Stryker’s Triathlon knee system since 2011.
The buyout reflects Stryker’s efforts to move to digitalization of sensor technology for joint replacement, boosting the company’s Orthopaedic business.
The financial terms of the deal have been kept under wrap.
OrthoSensor at a Glance
Headquartered in Dania Beach, FL, OrthoSensor is a leader in the digital evolution of musculoskeletal care and sensor technology for total joint replacement. With sensor-assisted technology and providing real time cloud-based data, OrthoSensor aims to improve clinical and economic outcomes for patients and healthcare stakeholders.
Significance of the Deal
The addition of the OrthoSensor total joint replacements line-up to its legacy Orthopaedics product range and is expected to help Stryker advance in the field of smart device technologies, including intraoperative sensors, wearables and smart implants. With this and based on its real-time measurement on key performance, the company expects to provide improved patients’ recovery outcome and guaranteed satisfaction.
OrthoSensor quantifies in intelligent sensor technology coupled with expanded data analytics and increasing computational power that will strengthen Stryker’s digital ecosystem. The acquisition of OrthoSensor allows Stryker to empower surgeons with comprehensive data-driven solutions.
Looking further, Stryker hopes to see OrthoSensor complement its leading Mako SmartRobotics to enhance robotic workflow through one complete data-driven feedback mechanism alongside MotionSense remote patient monitors, wearables and analytics.
Notable Developments
In November 2020, Stryker acquired a global medical device company -- Wright Medical. The company is a recognized leader in the upper extremities (shoulder, elbow, wrist and hand), lower extremities (foot and ankle) and biologics market segments, which are among the fastest growing segments in orthopaedics. The acquisition expands Stryker’s global position in trauma and extremities, providing significant opportunities to enhance patient base.
In the last quarter, Stryker’s Orthopaedics business reflects impressive performance with an international growth of 8% and growth of 9.2% in U.S. The U.S performance includes growth of 8.9% in knees, including high demand for Mako TKA knee platform.
Industry Prospect
Per a report by Allied Market Research, the global orthopaedic implants market is expected to reach $66,636 million by 2025, at a CAGR of 4.7%. The demand for orthopaedic implants has increased significantly owing to the rise in demand for advanced therapies, minimally-invasive procedures and surge in patient awareness toward the use of orthobiologics.
Price Performance
Shares of the company have gained 15.2% in a year’s time compared with industry’s growth of 4.9%.
Zacks Rank and Key Picks
Currently, Stryker carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from a broader medical space include InMode Ltd. (INMD - Free Report) , Owens & Minor, Inc. (OMI - Free Report) and Quidel Corporation (QDEL - Free Report) , each carrying a Zacks Rank #1 (Strong Buy). You can see the complete list of Zacks #1 Rank stocks here.
InMode has a projected long-term earnings growth rate of 28.09%.
Owens & Minor has a projected long-term earnings growth rate of 48.90%.
Quidel has an estimated long-term earnings growth rate of 25%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>