Stryker 2010 report highlights year-on-year growth

Stryker has experienced a 7.8 percent year-on-year sales increase in 2010, according to the medical device manufacturer's latest financial report.

The company generated $7.32 million (4.59 million pounds) in net sales for the 12 months, with both its Orthopaedic Implants and MedSurg divisions benefiting from annual growth.

Yearly earnings totals for the firm also increased compared to 2009, which Stryker attributed both to improved sales and the effects of its various restructuring, investments and divesture activities in the last year.

Among these actions was the recent takeover of Boston Scientific's neurovascular business unit, which was concluded earlier this month.

As such, the report forecasts that sales will continue to rise on a constant currency basis in 2011 by around 11 to 13 percent.

Stephen MacMillan, chairman, president and chief executive officer of Stryker, said: "Our 2010 results reinforce the underlying strength provided by our diverse revenue base, as we delivered on our financial commitments while successfully navigating through the continued challenges presented by the difficult economic environment."