Amedica Takes On Tough Sell in Orthopedics
Amedica says its high-strength silicon nitride-based ceramic could be the answer to some of the more vexing problems in spine, hip and knee surgeries. But can this materials science expert become a real orthopedics company?
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The general economic malaise closed the IPO window for medical device companies, forcing many to withdraw their public financing plans. Companies are adopting various financing and operational strategies to make a best of a bad situation.
Once the very model of stability among orthopedics companies, Biomet went through a rocky period a while ago as its stock price tanked and its long time CEO left the company. To the rescue has come a group of private equity investors who will take the company private when the transaction closes later this year. Biomet officials insist the company's turnaround will be based on the same success factors that made the company successful in the past: product innovation, strong distributor relationships, and close customer ties. But the question is: what changes, if any, will Biomet's new owners bring?
Few things have remained the same over the past 25 or 30 years--except John Brown's leadership at Stryker. Over the past 27 years, he's built this small Midwestern device company into a powerhouse in orthopedics and one of the industry's most consistent performers. In this interview, Brown looks back on his career, on the things that made Stryker a success, and on what it means to run a public company for nearly 30 years.