Sam Brusco, Associate Editor12.18.23
Stryker began a deal to acquire SERF SAS, a French joint replacement company.
SERF SAS has a legacy of over 50 years and is known for its innovations in hip implants. The company invented the original Dual Mobility Cup. The acquisition will complement Stryker’s presence in France and across Europe, as well as its global joint replacement portfolio.
In accordance with French law, the execution of any binding agreement would occur after the works council information-consultation process has been completed.
The proposed acquisition is expected to close during the first quarter of 2024, subject to customary closing conditions, including regulatory approvals.
Stryker’s Q3 net sales increased 9.6% to $4.9 billion, the company reported last month. Organic net sales posted a 9.2% increase, with a reported operating income margin of 19%. Adjusted operating income margin increased 110 bps to 23.4%.
Stryker said it expects full year 2023 organic net sales growth to be in the 10-10.5% range. The company anticipates net sales will be unfavorably impacted by about 0.6% due to foreign exchange levels, and adjusted net earnings per diluted share will be unfavorably impacted by $0.10-0.15 for the full year.
Recently the company celebrated that its Q Guidance system with Spine Guidance Software has been used in over 2,400 spinal cases.
SERF SAS has a legacy of over 50 years and is known for its innovations in hip implants. The company invented the original Dual Mobility Cup. The acquisition will complement Stryker’s presence in France and across Europe, as well as its global joint replacement portfolio.
In accordance with French law, the execution of any binding agreement would occur after the works council information-consultation process has been completed.
The proposed acquisition is expected to close during the first quarter of 2024, subject to customary closing conditions, including regulatory approvals.
Stryker’s Q3 net sales increased 9.6% to $4.9 billion, the company reported last month. Organic net sales posted a 9.2% increase, with a reported operating income margin of 19%. Adjusted operating income margin increased 110 bps to 23.4%.
Stryker said it expects full year 2023 organic net sales growth to be in the 10-10.5% range. The company anticipates net sales will be unfavorably impacted by about 0.6% due to foreign exchange levels, and adjusted net earnings per diluted share will be unfavorably impacted by $0.10-0.15 for the full year.
Recently the company celebrated that its Q Guidance system with Spine Guidance Software has been used in over 2,400 spinal cases.