Stryker reports double-digit growth in second quarter

Stryker has experienced strong growth in the second quarter of 2011 as it continues to expand its business.

The medical technology company reported a headline net sales total of $2.05 billion (1.3 billion pounds) for the period, up by 11.9 percent year on year on a constant currency basis.

This growth was reflected across its Reconstructive, MedSurg, and Neurotechnology and Spine units – with the latter seeing the most significant increase – while recent business acquisitions also had a positive impact.

In recent months, it has been able to complete the $316 million takeover of orthobiologic and biosurgery products specialist Orthovita, while a deal has also been agreed to acquire manufacturing firm Memometal Technologies.

Stryker expects to achieve a net sales growth of between 11 and 13 percent for the 2011 fiscal year as a whole.

Stephen MacMillan, chairman, president and chief executive officer of Stryker, said: "Our second-quarter results validate the strength of our diverse sales footprint, enabling us to deliver on our commitments despite ongoing macro-economic challenges."