Factbook 2009

_____________________________ Stryker Fact Book 2009-2010

Fact

Investor Relations Katherine A. Owen Vice President, Strategy and Investor Relations Public & Media Relations J. Patrick Anderson Vice President, Corporate Affairs 2825 Airview Boulevard Kalamazoo, MI 49002 t: 269 385 2600

Book 2009-2010


Table of

Stryker Overview Company Leadership ............................................................................................................ 1 Summary of Results ............................................................................................................. 2 Net Sales ............................................................................................................................... 3 Net Earnings as Reported ..................................................................................................... 4 Adjusted Net Earnings from Continuing Operations ............................................................ 5 Diluted Net Earnings per Share as Reported ........................................................................ 6 Adjusted Diluted Net Earnings per Share from Continuing Operations ............................... 7 2009 Product Portfolio Sales ................................................................................................ 8 2009 Orthopaedic Implants Product Sales ............................................................................ 9 2009 MedSurg Equipment Sales .......................................................................................... 10 2009 Sales by Geography ..................................................................................................... 11

Market Segment Overview Medical Technology Overview

2009 Worldwide Market ...................................................................................................... 13

Orthopaedic Market Segment Overview 2009 Worldwide Market by Product .................................................................................... 14 2009 Worldwide Market by Company ................................................................................. 15 2009 Worldwide Market by Geography ............................................................................... 16

Orthopaedic Implant Segment Overview 2009 Worldwide Reconstructive Market .............................................................................. 17 2009 Worldwide Spinal Market ........................................................................................... 18 2009 Worldwide Trauma & Craniomaxillofacial Market .................................................... 19 2009 Worldwide Orthobiologics Market .............................................................................. 20

MedSurg Equipment Segment Overview 2009 Worldwide Operating Room Equipment Market ........................................................ 21 2009 Worldwide Endoscopy Market .................................................................................... 22 2009 North American Patient Handling Market ................................................................... 23

Contents


Stryker Overview


Company CORPORATE OFFICERS OPERATING GROUPS AND DIVISIONS

Stephen P. MacMillan MEDSURG AND SPINE Chairman, President and Chief Executive Officer Timothy J. Scannell – Group President Jeanne M. Blondia Instruments Vice President and Treasurer James N. Heath – President Lonny J. Carpenter Medical Group President, Global Quality and Operations Bradford L. Saar – President Andrew G. Fox-Smith Endoscopy Group President, International William R. Enquist – Global President Curtis E. Hall Spine Vice President and General Counsel James R. Lawson – President Curt R. Hartman ORTHOPAEDICS Vice President and Chief Financial Officer Michael P. Mogul – Group President James E. Kemler Osteosynthesis Group President, Biotech and Development Vivian Masson – President Eric Lum INTERNATIONAL Vice President, Tax Andrew G. Fox-Smith – Group President Tony M. McKinney Europe Vice President, Chief Accounting Officer Laura Piccinini - President Michael P. Mogul Emerging Markets Group President, Orthopaedics Jim L. Cunniff – President Katherine A. Owen Japan Vice President, Strategy and Investor Relations Xavier Berling – President Michael W. Rude Canada Vice President, Human Resources David Murphy – General Manager Timothy J. Scannell South Pacific Group President, MedSurg and Spine Phillip S. Nicholl – Managing Director Elizabeth A. Staub BIOTECH Vice President, Regulatory Affairs and Quality Assurance James E. Kemler – Group President Bronwen R. Taylor Biotech Vice President, Internal Audit and Compliance David A. Renker – General Manager Thomas R. Winkel Vice President and Secretary

Leadership

1


2

Stryker Overview As Reported

2009 2008 % ChangeNet Sales $6,723 $6,718 --Net Earnings 1,107 1,148 (4)Diluted Net Earnings per Share 2.77 2.78 --

Adjusted Results

2009 2008 % ChangeNet Sales $6,723 $6,718 --

Adjusted Net Earnings 1,180 1,170 1Adjusted Diluted Net Earnings per Share 2.95 2.83 4Adjusted Return on Sales 18% 17%Adjusted Return on Average Equity 20% 22%

$ in millions (except per share amounts)1. See page 5 for the reconciliation to adjusted net earnings from continuing operations.2. See page 7 for the reconciliation to adjusted diluted net earnings per share from continuing operations.

Summary of Results


3

Stryker Overview

2,1422,421

2,810

3,402

4,0174,609

5,147

6,001

6,718 6,723

0500

1,0001,5002,0002,5003,0003,5004,0004,5005,0005,5006,0006,5007,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Annual Growth Rate 8% 13% 16% 21% 18% 15% 12% 17% 12% --

Net Sales

$ in Millions


4

Stryker Overview

211255

329

434 440

644

778

1,017

1,148 1,107

0

100

200

300

400

500

600

700

800

900

1,000

1,100

1,200

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Annual Growth Rate N.M.* 21% 29% 32% 1% 46% 21% 31% 13% (4%)

*N.M. = Not Meaningful

$ in Millions

Net Earnings as Reported


5

Stryker Overview

210 257325

419

559

676

824

999

1,1701,180

0

100

200

300

400

500

600

700

800

900

1,000

1,100

1,200

1,300

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Annual Growth Rate 29% 22% 26% 29% 33% 21% 22% 21% 17% 1%

* RECONCILIATION TO ADJUSTED NET EARNINGS FROM CONTINUING OPERATIONS ($ Millions)

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009Reported Net Earnings $211.1 $255.2 $328.5 $434.4 $440.0 $643.6 $777.7 $1,017.4 $1,147.8 $1,107.4

Adjustments (Net of Tax):Restructuring, Acquisition-Related, and Other Charges (Credits) (0.7) 0.4 11.5 - - - - - 21.7 5.5Goodwill/Workforce Intangible Amortization 10.9 11.0 - - - - - - - -Purchased In-Process Research & Development - - - - 120.8 15.9 52.7 - - -Income Taxes on Repatriation of Foreign Earnings - - - - - 27.4 - - - 67.1Extraordinary Loss - 4.8 - - - - - - - -Intangible Asset Impairment - - - - - - - 12.7 - -Net Earnings and Gain on Sale of Discontinued Operations (11.4) (14.6) (15.2) (15.8) (2.0) (11.1) (6.3) (30.7) - -

Subtotal (1.2) 1.6 (3.7) (15.8) 118.8 32.2 46.4 (18.0) 21.7 72.6

Adjusted Net Earnings from Continuing Operations $209.9 $256.8 $324.8 $418.6 $558.8 $675.8 $824.1 $999.4 $1,169.5 $1,180.0

$ in Millions

Adjusted Net Earnings from Continuing Operations*


6

Stryker Overview

0.520.63

0.81

1.07 1.08

1.57

1.89

2.44

2.78 2.77

$0.00$0.20$0.40$0.60$0.80$1.00$1.20$1.40$1.60$1.80$2.00$2.20$2.40$2.60$2.80$3.00

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Annual Growth Rate N.M.* 21% 29% 32% 1% 45% 20% 29% 14% --

*N.M. = Not Meaningful

Diluted Net Earnings per Share as Reported


7

Stryker Overview

0.520.63

0.80

1.03

1.37

1.65

2.00

2.40

2.832.95

$0.00$0.20$0.40$0.60$0.80$1.00$1.20$1.40$1.60$1.80$2.00$2.20$2.40$2.60$2.80$3.00$3.20

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009


* RECONCILIATION TO ADJUSTED DILUTED NET EARNINGS PER SHARE FROM CONTINUING OPERATIONS

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Reported Diluted Net Earnings per Share $0.52 $0.63 $0.81 $1.07 $1.08 $1.57 $1.89 $2.44 $2.78 $2.77

Adjustments (Net of Tax):Restructuring, Acquisition-Related and Other Charges (Credits) - - 0.03 - - - - - 0.05 0.01Goodwill/Workforce Intangible Amortization 0.03 0.03 - - - - - - - -Purchased In-Process Research & Development - - - - 0.30 0.04 0.13 - - -Income Taxes on Repatriation of Foreign Earnings - - - - - 0.07 - - - 0.17Extraordinary Loss - 0.01 - - - - - - - -Intangible Asset Impairment - - - - - - - 0.03 - -Net Earnings and Gain on Sale of Discontinued Operations (0.03) (0.04) (0.04) (0.04) - (0.03) (0.02) (0.07) - -

Subtotal - - (0.01) (0.04) 0.29 0.08 0.11 (0.04) 0.05 0.18

Adjusted Diluted Net Earnings per Share from Continuing Operations $0.52 $0.63 $0.80 $1.03 $1.37 $1.65 $2.00 $2.40 $2.83 $2.95

Adjusted Diluted Net Earnings per Share from Continuing Operations*


8

Stryker Overview

Knees

HipsOther Reconstructive

Endoscopy

Spinal

Trauma and Craniomaxillofacial

Operating RoomEquipment

$ in Millions

2009 2008 % ChangeConstant Currency

Orthopaedic Implants $4,120 $3,967 4% 6%MedSurg Equipment 2,603 2,751 (5%) (4%)

Total $6,723 $6,718 -- 2%

Orthopaedic Implants

2009 Product Portfolio Sales

Orthopaedic Implants

61%

MedSurg Equipment

39%

MedSurg Equipment

Medical Beds & Stretchers


9

Stryker Overview

Other Reconstructive

Hips

Knees

Spinal

1,406 1,537 1,798

2,192

2,5562,850

3,123

3,587

3,967 4,120

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009



2009 Orthopaedic Implants Product Sales

61% of Total Company Sales $ in Millions


10

Stryker Overview

736884 1,012

1,210

1,461

1,759

2,024

2,413

2,7512,603

0

300

600

900

1,200

1,500

1,800

2,100

2,400

2,700

3,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Annual Growth Rate 14% 20% 14% 20% 21% 20% 15% 19% 14% (5%)

Endoscopy

Operating Room Equipment

2009 MedSurg Equipment Sales

39% of Total Company Sales

$ in Millions

Medical Beds & Stretchers


11

Stryker Overview

Japan

EMEA

$ in Millions

2009 2008 % ChangeConstant Currency

United States $4,317 $4,282 1% 1%International 2,406 2,436 (1%) 3%Total $6,723 $6,718 -- 2%

United States

2009 Sales by Geography

Canada & Latin America

United States: 64% International: 36%

Pacific


12

Market The data set forth in this Market Segment Overview is derived, in part, from third party sources, including publicly reported information to the extent available. We are unable to independently verify the information that comes from third party sources. Moreover, the total market segment size and the market segment share of the companies included is necessarily based on estimates as many companies do not report the specific information identified by market segments as classified in this Market Segment Overview. The data presented is based on our definition of the market segments. Accordingly, while we believe that this data is representative, it is presented only to provide the reader with a broad overview and should not be relied on. Note: Numbers in this section may not add to totals due to rounding.

Segment

Overview


13

Medical Technology Market Overview

Rank Company

Total Estimated Med Tech

Sales

Total Estimated Company

Sales1. J&J 23.6 61.92. Siemens 16.4 103.73. G.E. 16.0 156.84. Medtronic 15.5 15.55. Baxter 12.6 12.66. Philips 10.9 32.37. Covidien 10.9 10.98. Boston Scientific 8.2 8.29. Becton Dickinson 7.4 7.410. Abbott 7.3 30.811. Stryker 6.7 6.712. Cardinal Health 6.7 101.713. B. Braun 5.6 5.614. St. Jude 4.7 4.715. 3M 4.3 23.116. Zimmer 4.1 4.117. Hospira 3.9 3.918. Smith & Nephew 3.8 3.819. Toshiba 3.7 71.119. Olympus 3.7 9.421. Synthes 3.4 3.422. Terumo 3.3 3.322. Beckman Coulter 3.3 3.324. Danaher 3.1 11.225. Alcon 3.0 6.526. Fresenius 2.9 11.227. Biomet 2.6 2.628. C.R. Bard 2.5 2.529. Carestream Health 2.4 2.430. Varian Medical 2.2 2.2

Top Medical Technology Companies ($ in Billions)*

*All numbers have been converted to USD at the 2009 average exchange rate and are for the twelve month period ending December 31, 2009.

2009 Worldwide Market


14

Orthopaedic Market Segment Overview

Reconstructive Joint Replacement

Spinal


Orthobiologics

Operating Room Equipment Arthroscopy

Hyaluronic Acid

Other

Estimated ($ in Billions)

SalesPercent

of MarketGrowth

Rate$6.9 19% 11%

Knees 6.6 18% 2%5.4 15% 6%

Hips 5.4 15% 1%2.9 8% 7%

Hyaluronic Acid 1.1 3% 7%1.1 3% 6%

$29.5 80% 5%

SalesPercent

of MarketGrowth

RateOperating Room Equipment $3.3 9% (3%)Arthroscopy 2.8 8% (4%)Other 1.4 4% 2%Subtotal $7.6 20% (2%)

Total Orthopaedic Market $37.1 100% 4%

Equipment & Other

Orthobiologics

Subtotal

ImplantsSpinal Devices

Trauma & Craniomaxillofacial

Extremities & Bone Cement

2009 Worldwide Market by Product

Market Size: $37.1 Billion

$ Growth: 4%

Stryker participates in shaded areas above


15


Zimmer

Other

Biomet

Smith & Nephew

Synthes

Medtronic

J&J

Stryker


CompanyTotal Sales

Orthopaedic Sales

Orthopaedic Market Share

Orthopaedic Growth Rate

Stryker $6.7 $5.6 15% 3%

J&J 61.9 4.9 13% 6%

Zimmer 4.1 3.9 10% 0%

Medtronic 15.5 3.8 10% 3%

Synthes 3.4 3.4 9% 8%

Smith & Nephew 3.8 2.8 8% 1%

Biomet 2.6 2.2 6% 6%

Other N/A 10.5 28% 4%

Total Market N/A $37.1 100% 4%

2009 Worldwide Market by Company

Market Size: $37.1 Billion $ Growth: 4%


16


United States EMEA Region

Japan

Pacific Region


Geographic Market 2009Percent of

MarketGrowth

RateConstant Currency

Growth RateUnited States $22.4 60% 5% 5%

EMEA Region 9.0 24% (3%) 5%

Japan 2.4 7% 15% 5%

Pacific Region 2.2 6% 6% 12%

Canada & Latin America Regions 1.1 3% 3% 3%

Total Market $37.1 100% 4% 5%

2009 Worldwide Market by Geography


$ Growth: 4%

Stryker participates in all geographic regions

Canada & Latin America Regions


17

Orthopaedic Implant Segment Overview

Knees

Hips

Extremities & Bone Cement

CompanyEstimated

Market Share Zimmer 24%

J&J 22%

Stryker 19%

Biomet 12%

Smith & Nephew 11%

Other 12%

2009 Worldwide Reconstructive Market


$ Growth: 2%

Stryker Growth: 3%

Stryker participates in all segments above


18


Cervical

Electrical Stimulation

Interbody Devices

Thoracolumbar

Company Medtronic

J&J

Synthes

Stryker

Nuvasive

Globus

Zimmer

Other 13%

4%

9%

5%

4%

EstimatedMarket Share

36%

15%

14%

2009 Worldwide Spinal Market Vertebral Compression

Fractures


$ Growth: 11%

Stryker Growth: 9% Stryker participates in shaded areas above


19


CompanyEstimated

Market Share

Synthes 41%

Stryker 17%

Smith & Nephew 8%

J&J 5%

Zimmer 4%

Biomet 3%

Other 22%

2009 Worldwide Trauma & Craniomaxillofacial

Hip Fracture

Craniomaxillofacial &

Neuro

Lower Extremity

Upper Extremity

Foot, Deformities,

Pediatric


$ Growth: 6%

Stryker Growth: 6%



20


CompanyEstimated

Market Share Medtronic 34% Synthes 7% J&J 3% Osteotech 3% Smith & Nephew 3% Stryker 3% Other 47%

2009 Worldwide Orthobiologics Market Blood Based & Ortho Stem Cells

Demineralized Bone Matrix


$ Growth: 7%

Stryker Growth: (19%) Stryker participates in shaded areas above

Growth Factors

Synthetics

Allograft


21

MedSurg Equipment Segment Overview

CompanyEstimated

Market Share

Stryker 31%

Medtronic 9%

Zimmer 6%

Conmed 4%

J&J 4%

iFlow 4%

Other 42%

2009 Worldwide Operating Room Equipment

Surgical Equipment Navigation

Powered Instruments


$ Growth: (3%)

Stryker Growth: (1%)



22


Other

Laparoscopy

Other

Implants & Ins

Visualization

Arthroscopy

Urology

Rigid Scopes

CompanyJ&J

Olympus

Covidien

Boston Scientific

Stryker

Karl Storz

Smith & Nephew

Other 29%

4%

4%

4%

7%

EstimatedMarket Share

18%

21%

13%

2009 Worldwide Endoscopy Market

Implants & Instruments

Visualization

Arthroscopy Urology

Rigid Scopes


$ Growth: 3%



Other Including: Open Surgery and Other Instrumentation, Other

Capital Equipment and Service, ENT, Oncology, Gynecology & Flexible

Scopes

Laparoscopy

Gastrointestinal


23


CompanyEstimated

Market Share Hill-Rom 46%

Stryker 26%

KCI 11%

Ferno-Washington 2%

Other 15%

2009 North American Patient Handling Market

Furniture

EMS

Patient Handling Recovery Transport Surgical

Rentals

Patient Room Med/Surg Maternity

Critical Care Furniture


$ Growth: (14%)




This page intentionally left blank.


Joint Replacements

Trauma, Extremities & Deformities

Craniomaxillofacial

Spine

Biologics

Surgical Products

Neuro & ENT

Interventional Spine

Navigation

Endoscopy

Communications

Imaging

Patient Care & Handling Equipment

EMS Equipment

Date post:	07-Apr-2015
Category:	Documents
Upload:	khaleeldjabil
View:	395 times
Download:	1 times

Factbook 2009

Documents