Stryker strengthens ASC position as elective surgeries return, robot sales accelerate

Stryker's orthopedic sales grew 16.1 percent in the third quarter, hitting $1.5 billion, and the company sees ASCs as a key area for growth.

 

Kevin Lobo, chairman of Stryker, told investors he feels good about the company's position in the ASC market during a third quarter earnings call in October, as transcribed by Seeking Alpha.

He was bullish on the company's opportunity to accelerate surgical robot sales at both hospitals and ASCs as elective procedures deferred during the pandemic return.

"When those procedures come back, we're in a terrific position to capitalize on them because [of] the Mako [robots] we're putting in, roughly half of those are going into competitive accounts," said Preston Wells, vice president of investor relations at Stryker. "When volumes come back, we will be able to really take advantage of that, not just in our own Stryker-friendly accounts, but even in the competitive accounts."

The company is also tracking the migration of outpatient surgery from hospital to ASCs.

"We certainly will continue to expect to see products and procedures shifting to the ASC because that's a trend that's already started and certainly accelerated over the last 18 months," Mr. Wells said.

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