Latest news with #Spine
Yahoo
27-05-2025
- Business
- Yahoo
BTIG Downgrades Globus Medical (GMED) to Neutral on Spine Business Concerns
On Tuesday, May 27, an analyst from BTIG downgraded Globus Medical Inc. (NYSE:GMED) from Buy to Neutral, citing concerns about its Spine business. The analyst did not assign a price target following the downgrade. Globus Medical is a medical device company specializing in healthcare solutions primarily for musculoskeletal disorders. In early May, the company reported weaker-than-expected Q1 2025 results, and the analyst believes this could signal further challenges across its business lines, particularly in the Spine division, which has now completed one year since the acquisition of NuVasive Inc. A doctor in a medical facility demonstrating a procedure with a state-of-the-art medical device. The downgrade also reflects negative cross-reads from industry peer Medtronic plc (NYSE:MDT), whose Q4 results beat expectations for both organic revenue growth and its 2026 outlook. The analyst suggests that this outperformance may indicate that Medtronic is gaining market share at the expense of competitors, such as Globus. As a result, the analyst expects Globus Medical to factor in these headwinds and update its FY 2025 guidance. Until the company addresses these challenges, the analyst anticipates the stock will underperform relative to previous expectations. While we acknowledge the potential of GMED as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than GMED and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None.
Associated Press
21-05-2025
- Business
- Associated Press
Medtronic reports strong finish to its fiscal year with its fourth quarter financial results; announces dividend increase
Building momentum in key franchises including Pulsed Field Ablation, TAVR, Cardiac Rhythm Management, Diabetes, Spine, and Neuromodulation GALWAY, Ireland, May 21, 2025 /PRNewswire/ -- Medtronic plc (NYSE: MDT), a global leader in healthcare technology, today announced financial results for its fourth quarter (Q4) and fiscal year 2025 (FY25), which ended April 25, 2025. Q4 Key Highlights Additional Key Highlights Q4 Financial Results Medtronic reported Q4 worldwide revenue of $8.927 billion, an increase of 3.9% as reported and 5.4% on an organic basis. The Q4 organic revenue growth comparison excludes: Q4 GAAP operating profit and operating margin were $1.436 billion and 16.1%, respectively, increases of 36% and 380 basis points, respectively. As detailed in the financial schedules included at the end of the release, Q4 non-GAAP operating profit and operating margin were $2.486 billion and 27.8%, respectively, increases of 8% and 90 basis points, respectively. Q4 GAAP net income and diluted earnings per share (EPS) were $1.057 billion and $0.82, respectively, increases of 62% and 67%, respectively. As detailed in the financial schedules included at the end of this release, Q4 non-GAAP net income and non-GAAP diluted EPS were $2.080 billion and $1.62, respectively, increases of 8% and 11%, respectively. Included in Q4 non-GAAP diluted EPS was a -7 cent impact from foreign currency translation. Q4 non-GAAP diluted EPS on a constant currency basis increased 16%. FY25 Financial Results Medtronic reported FY25 worldwide revenue of $33.537 billion and adjusted revenue of $33.627 billion, an increase of 3.6% as reported and 4.9% on an organic basis. The FY25 organic revenue growth comparison excludes: FY25 GAAP operating profit and operating margin were $5.955 billion and 17.8%, respectively, increases of 16% and 190 basis points respectively. As detailed in the financial schedules included at the end of the release, FY25 non-GAAP operating profit and operating margin were $8.648 billion and 25.7%, respectively, increases of 5% and 10 basis points, respectively. On a constant currency basis, FY25 non-GAAP operating profit and operating margin increased 9% and 100 basis points, respectively. FY25 GAAP net income and diluted earnings per share (EPS) were $4.662 billion and $3.61, respectively, representing increases of 27% and 31%, respectively. As detailed in the financial schedules included at the end of this release, fiscal year 2025 non-GAAP net income and non-GAAP diluted EPS were $7.079 billion and $5.49, respectively, representing increases of 2% and 6%, respectively. Included in FY25 non-GAAP diluted EPS was a -22 cent impact from foreign currency translation. FY25 non-GAAP diluted EPS on a constant currency basis increased 10%. FY25 cash from operations of $7.044 billion increased 4%. FY25 free cash flow of $5.185 billion was unchanged, representing free cash flow conversion from non-GAAP net earnings of 73%. 'We had a strong close to our fiscal year, and I'm excited to see the progress we are making as our growth drivers continue to build momentum. Operationally, we translated our accelerating revenue growth into earnings leverage, as we delivered at the upper end of the commitments that we laid out a year ago,' said Geoff Martha, Medtronic chairman and chief executive officer. 'The underlying fundamentals of our business are strong, and they are getting stronger. We are now at an inflection point as we accelerate our speed of travel to higher, more profitable growth.' Cardiovascular Portfolio The Cardiovascular Portfolio includes the Cardiac Rhythm & Heart Failure (CRHF), Structural Heart & Aortic (SHA), and Coronary & Peripheral Vascular (CPV) divisions. FY25 revenue of $12.481 billion increased 5.5% as reported and 6.3% organic, with high-single digit organic increases in CRHF and SH&A, and a low-single digit organic increase in CPV. Q4 revenue of $3.336 billion increased 6.6% as reported and 7.8% organic, with a low-double digit increase in CRHF, high-single digit increase in SH&A, and low-single digit increase in CPV, all on an organic basis. Neuroscience Portfolio The Neuroscience Portfolio includes the Cranial & Spinal Technologies (CST), Specialty Therapies, and Neuromodulation divisions. FY25 revenue of $9.846 billion increased 4.7% reported and 5.2% organic, with a low-double digit increase in Neuromodulation, mid-single digit increase in CST, and low-single digit increase in Specialty Therapies, all on an organic basis. Q4 revenue of $2.620 billion increased 2.9% as reported and 3.7% organic, with a low-double digit increase in Neuromodulation, mid-single digit increase in CST, and low-single digit decrease in Specialty Therapies, all on an organic basis. Medical Surgical Portfolio The Medical Surgical Portfolio includes the Surgical & Endoscopy (SE) and the Acute Care & Monitoring (ACM) divisions. FY25 revenue of $8.407 decreased 0.1% reported and increased 0.8% organic, with low-single digit organic growth in both SE and ACM. Q4 revenue of $2.212 billion grew 0.6% as reported and 2.0% organic, with low-single digit organic growth in both SE and ACM. Diabetes Diabetes FY25 revenue of $2.755 billion increased 10.7% as reported and 11.5% organic. Q4 revenue of $728 million increased 10.4% as reported and 12.0% organic, the sixth consecutive quarter of double-digit organic growth. Medtronic to Separate Diabetes Business As part of its ongoing portfolio management strategy, Medtronic today announced its intent to separate its Diabetes business into a new standalone public company. The separation is expected to be completed within 18 months through a series of capital markets transactions, with a preferred path of an initial public offering (IPO) and subsequent split-off. Additional details are available in a separate press release and presentation. The press release is available at and a PDF of the presentation can be viewed by clicking here. Cardiovascular Leadership Transition Sean Salmon, executive vice president and president, Cardiovascular Portfolio, will be leaving Medtronic. Skip Kiil, senior vice president and president of the Medtronic Cranial and Spinal Technologies (CST) business, has been promoted to executive vice president and president Cardiovascular Portfolio, effective immediately. Skip will report to Geoff Martha and will become a member of the Medtronic Executive Committee. Michael Carter, vice president and general manager, Spine, will succeed Kiil as senior vice president and president, CST. 'We are grateful to Sean for his more than 20 years of dedication to serving our Medtronic Mission – and for leading our Cardiovascular portfolio in developing some of the most exciting new technologies that are making an impact in the market today and accelerating our Cardiovascular growth,' said Martha. 'Skip's appointment comes at an exciting time for our Cardiovascular businesses. His global mindset, and proven track record of commercialization and market development will support our strong Cardiovascular team in further advancing the impact and momentum of these exciting therapies. Skip will be a great addition to both the Medtronic Executive Committee and our Cardiovascular leadership team.' Dividend Increase The company today announced that effective May 20, 2025, the Medtronic board of directors approved an increase in Medtronic's cash dividend for the first quarter of fiscal year 2026, raising the quarterly amount to $0.71 per ordinary share. This would translate into an annual amount of $2.84 per ordinary share. Today's announcement marks the 48th consecutive year of an increase in the dividend payment. The dividend is payable on July 11, 2025, to shareholders of record at the close of business on June 27, 2025. Guidance The company today issued its fiscal year 2026 (FY26) revenue growth and EPS guidance. The company is guiding to FY26 organic revenue growth of approximately 5%. The organic revenue growth guidance excludes the impact of foreign currency exchange and revenue reported as Other. Including Other revenue and the impact of foreign currency exchange, if recent foreign currency exchange rates hold, FY26 revenue growth on a reported basis would be in the range of 4.8% to 5.1%. Excluding the potential impacts from increased tariffs, Medtronic expects FY26 diluted non-GAAP EPS growth to be approximately 4%. This includes an expectation for non-GAAP operating profit to grow faster than organic revenue, partially offset by increased interest and tax expense. Including a potential impact from tariffs as detailed in the company's earnings presentation, Medtronic is guiding FY26 diluted non-GAAP EPS in the range of $5.50 to $5.60. The lower end of the EPS range assumes that the bilateral US/China tariffs resume at the higher rates following the 90 day pause, while the higher end of the EPS range assumes that the bilateral US/China tariffs currently in effect during the pause remain in place through fiscal year 2026. 'Our fiscal 2026 guidance reflects increasing revenue growth contribution from our key growth drivers, and increased investment to support their growth, leading to leveraged operating profit growth pre-tariffs. In addition, the team has rallied to identify opportunities to offset a large portion of tariffs, and we have high confidence in our ability to execute additional mitigation efforts,' said Thierry Piéton, Medtronic chief financial officer, who joined the company on March 3, 2025. 'This is an exciting time to join Medtronic. I am energized by the opportunities for durable growth and value creation ahead of us.' Video Webcast Information Medtronic will host a video webcast today, May 21, at 8:00 a.m. EDT (7:00 a.m. CDT) to provide information about its business for the public, investors, analysts, and news media. This webcast can be accessed by clicking on the Quarterly Earnings icon at and this earnings release will be archived at Within 24 hours of the webcast, a replay of the webcast and transcript of the company's prepared remarks will be available by clicking on the Past Events and Presentations link under the News & Events drop-down at Medtronic plans to report its FY26 first, second, third, and fourth quarter results on Tuesday, August 19, 2025, November 18, 2025, February 17, 2026, and Wednesday, May 20, 2026, respectively. Confirmation and additional details will be provided closer to the specific event. Financial Schedules and Earnings Presentation The fourth quarter and full year financial schedules and non-GAAP reconciliations can be viewed by clicking on the Quarterly Earnings link at To view a printable PDF of the financial schedules and non-GAAP reconciliations, click here. To view the fourth quarter earnings presentation, click here. About Medtronic Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Galway, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 95,000+ passionate people across more than 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. For more information on Medtronic (NYSE: MDT), visit and follow on LinkedIn. FORWARD LOOKING STATEMENTS This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties, including risks related to competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of medical products, government regulation, geopolitical conflicts, changing global trade policies, material acquisition and divestiture transactions, general economic conditions, and other risks and uncertainties described in the company's periodic reports on file with the U.S. Securities and Exchange Commission including the most recent Annual Report on Form 10-K of the company. In some cases, you can identify these statements by forward-looking words or expressions, such as 'anticipate,' 'believe,' 'could,' 'estimate,' 'expect,' 'forecast,' 'intend,' 'looking ahead,' 'may,' 'plan,' 'possible,' 'potential,' 'project,' 'should,' 'going to,' 'will,' and similar words or expressions, the negative or plural of such words or expressions and other comparable terminology. Actual results may differ materially from anticipated results. Medtronic does not undertake to update its forward-looking statements or any of the information contained in this press release, including to reflect future events or circumstances. NON-GAAP FINANCIAL MEASURES This press release contains financial measures, including adjusted net income, adjusted diluted EPS, and organic revenue, which are considered 'non-GAAP' financial measures under applicable SEC rules and regulations. References to quarterly or annual figures increasing, decreasing or remaining flat are in comparison to fiscal year 2024, and references to sequential changes are in comparison to the prior fiscal quarter. Unless stated otherwise, quarterly and annual rates and ranges are given on an organic basis. Medtronic management believes that non-GAAP financial measures provide information useful to investors in understanding the company's underlying operational performance and trends and to facilitate comparisons with the performance of other companies in the med tech industry. Non-GAAP net income and diluted EPS exclude the effect of certain charges or gains that contribute to or reduce earnings but that result from transactions or events that management believes may or may not recur with similar materiality or impact to operations in future periods (Non-GAAP Adjustments). Medtronic generally uses non-GAAP financial measures to facilitate management's review of the operational performance of the company and as a basis for strategic planning. Non-GAAP financial measures should be considered supplemental to and not a substitute for financial information prepared in accordance with U.S. generally accepted accounting principles (GAAP), and investors are cautioned that Medtronic may calculate non-GAAP financial measures in a way that is different from other companies. Management strongly encourages investors to review the company's consolidated financial statements and publicly filed reports in their entirety. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the financial schedules accompanying this press release. Medtronic calculates forward-looking non-GAAP financial measures based on internal forecasts that omit certain amounts that would be included in GAAP financial measures. For instance, forward-looking organic revenue growth guidance excludes the impact of foreign currency fluctuations, as well as significant acquisitions or divestitures. Forward-looking diluted non-GAAP EPS guidance also excludes other potential charges or gains that would be recorded as Non-GAAP Adjustments to earnings during the fiscal year. Medtronic does not attempt to provide reconciliations of forward-looking non-GAAP EPS guidance to projected GAAP EPS guidance because the combined impact and timing of recognition of these potential charges or gains is inherently uncertain and difficult to predict and is unavailable without unreasonable efforts. In addition, the company believes such reconciliations would imply a degree of precision and certainty that could be confusing to investors. Such items could have a substantial impact on GAAP measures of financial performance. Contacts: Erika Winkels Public Relations +1-763-526-8478 Ryan Weispfenning Investor Relations +1-763-505-4626 View original content to download multimedia: SOURCE Medtronic plc
Associated Press
11-03-2025
- Business
- Associated Press
Kuros Biosciences grows sales to CHF 75.6 million for 2024
Ad-hoc announcement pursuant to Article 53 of the SIX listing rules Kuros Biosciences grows sales to CHF 75.6 million for 2024 Financial Highlights Direct MagnetOs™ sales increased by 136% to CHF 74.8 million (2023: CHF 31.7 million) Total Medical Device sales rose by 125% to CHF 75.6 million (2023: CHF 33.6 million) Total Group EBITDA reached CHF 2.2 million (2023: EBITDA loss of CHF (5.9) million), including the impairment, the group ended in a net loss of CHF (4.3) million Total Group adjusted EBITDA amounted to CHF 9.0 million, equaling a margin of 11.9% The Group surpassed the cash flow breakeven point on an annualized basis Cash and cash equivalents totaled CHF 18.0 million, up from CHF 14.2 million as of December 31, 2023 In 2025 Kuros will change its reporting currency from CHF to USD The Group expects sales growth of at least 60% in 2025 and anticipates sales of between USD 220 million and USD 250 million by 2027 Kimberley Elting proposed as new Board member Schlieren (Zurich), Switzerland, March 11, 2025 – Kuros Biosciences ('Kuros' or the 'Company') a leader in next generation bone healing technologies, today announced its financial and operational results for the full year 2024, marking another year of record growth, increased market penetration, and strategic portfolio advancements. Revenue from Direct MagnetOs product sales increased 136% year-on-year to CHF 74.8 million (2023: CHF 31.7 million). Total group revenue reached CHF 75.6 million, marking a growth of 125% compared to 2023. Kuros Group achieved an EBITDA of CHF 2.2 million in 2024, increased from EBITDA loss of CHF (5.9) million in 2023; adjusted EBITDA excluding the Fibrin-PTH costs, recurring and one-time share-based compensation, and the relevant social security charges totaled at CHF 9.0 million, representing an adjusted EBITDA margin of 11.9%. Chris Fair, Chief Executive Officer of Kuros Biosciences, said: 'We recorded exceptional Direct MagnetOs sales growth of 136%. This growth was driven by the successful roll-out of our technology in key markets, particularly as demand continues to grow globally. Overall, this was a transformative year for Kuros, marked by delivering our first positive EBITDA for the Group much earlier than anticipated. In addition, exceeding cash flow breakeven is a key milestone for the company. Strategically, a landmark Level 1 clinical study published in Spine continues to drive customer preference. We also secured a five-year exclusive agreement with Medtronic to accelerate MagnetOs adoption in the U.S. Our expansion into adjacent extremities markets, portfolio innovation in minimally invasive surgery, and broader global distribution capabilities position us for continued explosive growth. With a strong foundation and a clear roadmap, Kuros is well-positioned to capitalize on emerging opportunities and drive sustained shareholder value.' Regulatory, Clinical & Commercial Highlights Landmark Clinical Data Published – A peer-reviewed Level 1 clinical study in Spine confirmed MagnetOs as a standalone alternative to autograft, showing noninferiority, with primary analysis even indicating MagnetOs superiority. MagnetOs achieved a 79% fusion rate, outperforming autograft's 47% in challenging spinal posterolateral fusions.1,2 U.S. Consolidation and Growth – A five-year strategic agreement with the Medtronic spinal division enhanced MagnetOs' access and will accelerate its growth and adoption across the U.S. Under the agreement, Medtronic acts as the exclusive sales agent of MagnetOs for Kuros Biosciences USA, Inc. in mutually agreed upon sales territories for use in spine surgeries. Diversification into Adjacent Markets – Kuros initiated the expansion into the adjacent extremities markets, leveraging the established success of MagnetOs in the spine market and pursuing new indications in other musculoskeletal areas. Portfolio Innovation – Significant development work was completed for new MagnetOs Minimally Invasive Surgery (MIS) applications and osteopromotive platforms, including surface technologies for implantable devices, to meet market needs. Global Expansion – Kuros expanded its distribution network in the UK, Australia, New Zealand and the Middle East, with plans to enter Asia Pacific and South American markets in 2025. Operational Excellence – Kuros doubled its capacity in August 2024 and is set to double capacity again to meet anticipated growth, focusing on maximizing return on capital through strategic resource allocation and controlled fixed costs for improved operational leverage. New Board Member – Kimberley Elting, an experienced MedTech executive with comprehensive global industry expertise and significant leadership experience across all medical technology company operations and product life cycle, is proposed as a new Board member. Kimberley's background in the U.S. and global commercialization, the orthopedics market, and company governance matters would complement the existing Kuros Board of Directors. She has held executive leadership positions at Orthofix Medical, Inc., Trivascular Technologies (now Endologix) and St. Jude Medical (now Abbott). Net operating costs Cost of goods sold amounted to CHF 13.5 million (2023: CHF 9.6 million) of which CHF 1.6 million (2023: CHF 1.8 million) relate to the amortization of capitalized R&D and CHF 5.1 million related to impairment of goodwill. (2023: impairment of goodwill and intangible of CHF 4.4 million and CHF 0.1 million respectively). Net operating costs from continuing operations amounted to CHF 67.0 million, compared to CHF 33.6 million in the prior year. Sales and marketing costs increased from CHF 23.3 million in 2023 to CHF 45.0 million in 2024, primarily driven by an expanded sales force, higher sales and distribution expenses, reflecting the growth in commercial activities. Research and development costs increased from CHF 2.0 million in 2023 to CHF 7.0 million in 2024. This is primarily driven by increased R&D activities, clinical trial expenditures, and higher personnel expenses due to an increase in headcount and share-based compensation. General and administrative costs increased from CHF 8.4 million in 2023 to CHF 15.2 million in 2024. The increase was mainly driven by the scaling up of back-office functions to support business growth. In prior years, the Group explored drug-based orthobiologic development, namely Fibrin-PTH. Following an interim analysis and the superior clinical outcomes observed with MagnetOs, the Group decided in December 2023 not to advance Fibrin-PTH to Phase 3. All operations related to Fibrin-PTH have ceased by the end of 2024, resulting in the classification of Fibrin-PTH as discontinued operation. In 2024, expenses related to discontinued operation totaled CHF 0.6 million (2023: CHF 3.6 million). Financial position and other assets Cash and cash equivalents amounted to CHF 18.0 million. The increase is mainly driven by higher operating cash flow from increased revenue and proceeds from option exercises. Funds available (including trade and other receivables) for financing the operations of Kuros amounted to CHF 34.2 million as of December 31, 2024. This is an increase of CHF 12.4 million from CHF 21.8 million as of December 31, 2023. As of December 31, 2024, total intangible assets amounted to CHF 15.0 million (2023: CHF 16.5 million) and goodwill amounted to CHF 19.4 million (2023: CHF 24.5 million). The impairment of goodwill of CHF 5.1 million resulted from a delay of expected milestones from Checkmate licensing. Outlook Kuros expects MagnetOs to continue its strong growth trajectory in the spine and extremity segments, gaining further market share in the U.S., Europe and the rest of the world, and launching in additional countries. The company is sufficiently financed on its planned organic growth path and expects robust sales growth of at least 60% in 2025. Kuros is anticipating sales of USD 220 to 250 million by 2027, reflecting its commitment to long-term value creation through innovation, market share gains, and customer satisfaction. Key figures 2024 2023 Restated In TCHF, IFRS Revenue from product sales 75,555 33,564 Cost of goods sold (13,524) (9,628) Gross profit 62,031 23,936 Sales and marketing costs (44,964) (23,328) Research and development costs (6,984) (2,030) General and administrative costs (15,196) (8,447) Other income 118 248 Net operating costs (67,026) (33,557) Operating loss (4,995) (9,621) Net finance result 1,649 (155) Loss before tax (3,346) (9,776) Income taxes (370) (380) Net loss from continuing operations (3,716) (10,156) Loss from discontinued operation, net of tax (574) (3,571) Net loss (4,290) (13,727) Net loss per share from continuing operations (in CHF) (0.10) (0.28) Net loss per share (in CHF) (0.12) (0.38) Cash and cash equivalents 18,021 14,208 Trade and other receivables 16,139 7,617 Annual Report 2024 The Kuros Biosciences Annual Report 2024 can be downloaded via the following link on our website: Kuros Biosciences Annual Report 2024 Full Year Results 2024 – Webcast Kuros will host a virtual webcast to discuss FY 2024 financial results on March 11, 2025, at 3:00pm CET. Investors can join the webcast via the following link: Investor Webcast Registration Upcoming Events April 15, 2025 – Annual Shareholders' Meeting 2025 April 17, 2025 – Trading Update Q1 2025 May 13, 2025 – Kuros Capital Market Day For further information, please contact: Kuros Biosciences AG About MagnetOs MagnetOs TM is a bone graft like no other: thanks to its NeedleGrip TM surface technology, it grows bone even in soft tissues. This surface technology provides traction for our body's vitally important 'pro-healing' immune cells (M2 macrophages). This in turn, unlocks previously untapped potential to stimulate stem cells – and form new bone throughout the graft. The growing body of science behind NeedleGrip is called osteoimmunology. But for surgeons and their patients it means one thing: a more predictable fusion. *†‡3-7 Indications Statement Please refer to the instructions for use for your local region for a full list of indications, contraindications, warnings, and precautions. About Kuros Biosciences Kuros Biosciences is on a mission to discover, develop and deliver innovative biologic technologies. With locations in the United States, Switzerland and the Netherlands, the company is listed on the SIX Swiss Exchange. The company's first commercial product, MagnetOs TM, is a unique advanced bone graft that has already been used across four continents. For more information on the company, its products and pipeline, visit Forward Looking Statements This media release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. You are urged to consider statements that include the words 'will' or 'expect' or the negative of those words or other similar words to be uncertain and forward-looking. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include scientific, business, economic and financial factors. Against the background of these uncertainties, readers should not rely on forward-looking statements. The Company assumes no responsibility for updating forward-looking statements or adapting them to future events or developments. *Results from in vivo laboratory testing may not be predictive of clinical experience in humans. For important safety and intended use information please visit †MagnetOs is not cleared by the FDA or TGA as an osteoinductive bone graft. ‡MagnetOs has been proven to generate more predictable fusions than two commercially available alternatives in an ovine model of posterolateral fusion. Stempels, H. et al., 'Efficacy of biphasic calcium phosphate ceramic with a needle-shaped surface topography versus autograft in instrumented posterolateral spinal fusion: A randomized trial.' Spine. June 17, 2024. Yadav S, et al. J Ortho Trauma Rehab. 2020;27(2):173-178. Van Dijk, et al. eCM. 2021; 41:756-73. Duan, et al. eCM. 2019; 37:60-73. Van Dijk, et al. Clin Spine Surg. 2020;33(6): E276-E287. Van Dijk, et al. JOR Spine. 2018 ; e1039.
Yahoo
28-01-2025
- Business
- Yahoo
Stryker announces the retirement of Glenn S. Boehnlein and the promotion of Preston Wells to Vice President, Chief Financial Officer
Portage, Michigan, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Stryker (NYSE: SYK) announced today that Glenn S. Boehnlein will retire from his role as Vice President, Chief Financial Officer. Boehnlein's decision follows an impressive 22-year career at Stryker. Preston Wells, who currently serves as Group CFO for Stryker's Orthopaedics Group, will assume the role of Vice President, Chief Financial Officer effective April 1, 2025. 'I want to thank Glenn for his performance drive, strong business partnership, and excellent leadership of the Finance and IT organizations. Glenn is a growth champion who invested in developing talent, including Preston Wells, who has been promoted to Chief Financial Officer,' stated Kevin A. Lobo, Chair and Chief Executive Officer, Stryker. 'I am confident in Preston's ability to help Stryker continue to deliver strong results."Wells has held various finance roles at Stryker. In his current role, he collaborates with the Joint Replacement, Trauma & Extremities, Spine, and Digital, Robotics, and Enabling Technologies teams to deliver market leading growth, while providing financial and strategic leadership across the Orthopaedics Group. Previously, Wells led Investor Relations, Enterprise Financial Planning & Analysis, and the sales finance and sales operations teams that supported Stryker's Spine business. Before Stryker, Wells had 17 years of senior accounting and financial management experience, holding finance leadership roles at Dialight Corporation and Johnson & Johnson. He graduated from Bucknell University with a bachelor's in accounting and earned an MBA in Supply Chain Management from Lehigh University. About Stryker Stryker is a global leader in medical technologies and, together with our customers, we are driven to make healthcare better. We offer innovative products and services in MedSurg, Neurotechnology and Orthopaedics that help improve patient and healthcare outcomes. Alongside our customers around the world, we impact more than 150 million patients annually. More information is available at Contacts For investor inquiries please contact:Jason Beach, Vice President, Finance and Investor Relations at 269-385-2600 or For media inquiries please contact:Yin Becker, Vice President, Chief Corporate Affairs Officer at 269-385-2600 or in to access your portfolio
