Stryker reports strong third-quarter growth for 2016

Stryker has announced strong double-digit growth for the third quarter of 2016, during which it delivered a net sales total of $2.8 billion (2.25 billion pounds).

This represents a year-on-year increase of 17.1 percent, or 16.7 percent in constant currency terms, with its MedSurg division responsible for the majority of this increase following the acquisitions of Sage Products and Physio-Control International.

Even excluding the impact of acquisitions, the business saw strong organic growth during the quarter, with its orthopaedics and neurotechnology and spine divisions also contributing to the positive momentum.

Stryker's reported net earnings rose 17.9 percent in the quarter to $355 million, further adding to the company's confidence in its overall performance.

For the full year, the firm expects organic sales growth to be in the range of six to 6.5 percent – roughly in line with its figures for Q3, once acquisitions are factored out.

Kevin Lobo, chairman and chief executive officer of Stryker, said: "Our third-quarter results again demonstrate our ability to consistently deliver strong organic sales growth at the high end of med tech."

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