Stryker highlights third-quarter growth trends

Stryker has announced a net sales total of $2.1 billion (1.3 billion pounds) for the third quarter of 2012, which was up by one percent compared to last year.

According to data from the medical technology firm's latest financial report, its adjusted diluted net earnings per share rose by 6.6 percent during the quarter, with a strong performance for its US franchises partially offset by weaker international results.

The company's MedSurg and neurotechnology and spine divisions were both able to achieve year-over-year gains, which helped to counterbalance the difficulties experienced by its reconstructive business unit.

Moreover, the firm was able to agree a deal earlier this week to purchase Surpass Medical for $135 million, which will improve its future growth prospects.

Kevin Lobo, president and chief executive officer (CEO) of Stryker, said the company expects "market conditions to remain challenging in Europe and for capital equipment".

Mr Lobo was appointed to his new role at the start of the month, taking over from interim CEO Curt Hartman, who will be leaving Stryker once the transitional process is complete.