Stryker (NYSE: SYK) announced today an agreement to sell its US back implant business at the Viscogliosi Brothers investment firm, which will call the new VB Spine company.
The world’s second largest orthopedic equipment company also announced the retirement of its main financial officer, reported the results of the fourth and full quarter operation, and offered its prospect for the following year.
It is expected to close in the first half of 2025, the agreement also includes a binding bid for the Business of the Spine Implants in France, “undergoing consultations required with employees and/or employee representatives.”
Portage, Michigan -based Stryker, said she also plans to sell her spine implant businesses in other international markets.
“We believe that the spinal implants business, with its comprehensive portfolio and the strong sales channel, will flourish as an independent company,” said Ceo I Stryker and President Kevin Lobo in a news announcement. “With dedicated resources and a concentrated strategy, the business will be well positioned to succeed as part of the Viscogliosi brothers.”
The Business of Strker’s Spine Implants in the US and VB Spine will continue to function as separate entities until the transaction closes, at which the VB spine point will have exclusive access to Mako Spine and Stryker bastard for use with VB back implants in the spine procedures.
Financial conditions were not discovered. Stryker said the deal “will improve the focus of Stryker and VB Spine to meet the needs of their clients and patients and is expected to achieve faster growth and provide greater value for all stakeholders.”
Marc, John and Anthony Viscogliosi-who co-founded brothers Viscogliosi based in New York City in the 1999 announcement that they have long admired Stryker for his comprehensive spine, extraordinary talent and culture strong. “
“We see a tremendous opportunity to provide focus, surgeon -centered innovation and trade execution needed to increase business and further influence the lives and results of patients,” they said.
Brothers Viscogliosi said it focuses on “identifying and building fundamental innovations in health care, aiming to address unfulfilled clinical needs, improve the patient’s results and direct cost efficiency in the health care system.”
The Family Office said it has transformed spine industry businesses, including Spine Solutions, Spine Next, Paradigm Spine, Simplify Medicine, Centel Spine, Companion Spine, Spine Biopharma and Orthopedics Technologies.
Earlier this month, Stryker announced a final deal to buy Inari Medical for about $ 4.9 billion. The company says it expects that deal to close near the end of February.
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CFS of Stryker is retired
Stryker also announced the retirement of the VP and the main financial official Glenn Boehnlein after 22 years with the Orthopedics company. It will be replaced by Preston Wells, CFO for Stryker’s Orthopedics Group on April 1.
“I want to thank Glenn for his performance leadership, strong business partnership and excellent leadership of finance and IT organizations,” Lobo said in a news announcement. “Glenn is a growth champion that invested in talent development, including Preston Wells. … I’m sure of the ability of Preston to help Stryker continue to deliver strong results.”
Wells previously led investors’ relationships, enterprise planning and financial analysis and sales financing teams and sales operations that support Stryker’s backbone business.
Streker’s results 2024 and Outlook 2025
Stryker reported a sale of $ 6.4 billion for the fourth quarter (ended on December 31, 2024), with 11% from the same quarter a year ago.
Quarterly profits came to $ 546 million, down 53% from the last quarter of 2023. This was equivalent to $ 1.43, or EPS regulated $ 4.01.
Analysts were expecting EPS regulated $ 3.87 to $ 6.36 billion in revenue.
2024 sales of 2024 came to $ 22.6 billion, with 10 percent from a year earlier. Net revenue for 2024 was $ 3.0 billion, below 5% out of 2023.
“We have given another year of increasing two -digit organic sales as we continue to expand regulated operation margins and regulated profits to increase shares,” Lobo said in a news announcement. “We also had a lot of product omissions and we were active in M&A to further improve our position in high -rise end markets. For sustainable success in 2025 and beyond. “
Stryker said he expects growth of net organic sales in the range of 8% to 9% in 2025 and regulated EPS from $ 13.45 to $ 13.70 “based on our moment out of 2024, a sustainable level of procedural volumes, Strong demand for our capital products and our presence in healthy end markets. “