8. Stryker
$14,884,000,000*
Kalamazoo, Mich.
2019 rank: 9
R&D spend: $971,000,000
Employees: 40,000
*Fiscal year ended 12/31/2019
Expect the world’s largest orthopedics device company to be even bigger in next year’s Big 100. Stryker this month closed on its $4.7 billion purchase of Wright Medical — selling some of its arthroplasty systems to DJO in order to appease antitrust regulators. Stryker especially faced challenges due the COVID-19 pandemic as people and their health providers held off on hip and knee replacements and spinal procedures. Growth, however, returned during this year’s Q3, though CEO Kevin Lobo cautioned that the growth was uneven. Stryker is especially enjoying success surrounding its popular Mako ortho surgical robotics systems, with the 1,000th robotic system installed during Q3. During a DeviceTalks Weekly podcast over the summer, Lobo said he thought the pandemic was causing Stryker employees to gain a better understanding of tools to help them work more efficiently. “We’ve learned new skills,” Lobo said. “We didn’t previously do physician training or even company meetings in a virtual format (before the lockdown). I think this will be part of our future offense. We’re feeling very optimistic about the future.” – CN
Key personnel: Kevin Lobo, board chair & CEO; Robert Fletcher, VP, chief legal officer; Yin Becker, VP, communications, public affairs and corporate marketing; Preston Wells, VP, investor relations; Viju Menon, group president, global quality and operations; M. Kathryn Fink, VP, chief human resources officer; Spencer Stiles, group president, orthopaedics and spine; Timothy Scannell, president and chief operating officer; Andy Pierce, group president, MedSurg and neurotechnology; Glenn Boehnlein, VP & CFO
