Stryker reports strong growth for 2012

Stryker has published its financial report for the fourth quarter and full-year periods of 2012, during which it experienced encouraging year-on-year growth.

The medical technology firm's preliminary net sales figure for the final three months of the year came to $2.3 billion (1.43 billion pounds), up by 5.5 percent on Q4 2011, with its reconstructive, MedSurg, and neurotechnology and spine divisions all seeing improvements.

Over the year as a whole, its sales totalled $8.7 billion, an increase of 4.2 percent, while for 2013 the company expects to achieve further growth of between 3.0 and 5.5 percent.

In addition, the firm recently announced a 25 percent increase to its quarterly dividend as well as an expansion of its share repurchase authorisation to $1 billion.

Kevin Lobo, president and chief executive officer for Stryker, said: "With a solid performance in the fourth quarter, we delivered on our revised sales and earnings targets. This reflects the commitment of our global teams and strength of our diverse sales footprint."

This comes after the company announced the appointment of Dr Scott Bruder to the newly created position of vice-president and chief medical and scientific officer earlier this month.