Stryker: Acquisitions our top priority for cash

Stryker-Logo-2Stryker (NYSE:SYK) told analysts this week that mergers & acquisitions are its top priority for the $2.59 billion in ready cash it’s carrying on its balance sheet, with small or mid-sized deals more likely than a blockbuster like the much-speculated-upon possibility of a merger with rival Smith & Nephew (NYSE:SNN).

During a cocktail hour to kick off its analyst day in Kalamazoo, Mich., the orthopedics giant’s executives said M&A “is the company’s first cash use priority and the company remains actively engaged in seeking out deals,” according to Leerink Partners analyst Richard Newitter. Although CEO Kevin Lobo does “not feel in a rush” to close deals because its businesses are in “solid competitive positions,” Newitter wrote, Stryker is ready to be “opportunistic when the ‘right’ deal presents itself.”

READ THE REST HERE

About Peter Coffaro 1439 Articles
A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

Be the first to comment

Leave a Reply

Your email address will not be published.


*