{
  "docId": "019dd923-622c-750b-8b99-38d956541145",
  "docSlug": "a8618aad4c6b",
  "documentTitle": "Stryker Corp. (SYK)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-04-06 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 125,
  "pageCount": 195,
  "prevPage": 124,
  "nextPage": 126,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 4,
  "notes": "Uses red text highlights to emphasize key claims from competitors.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "quote_block"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-38d956541145/125",
  "deckHref": "/decks/019dd923-622c-750b-8b99-38d956541145",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-38d956541145.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-38d956541145#slide-125",
  "components": [
    {
      "bbox": {
        "h": 0.12,
        "w": 0.88,
        "x": 0.06,
        "y": 0.16
      },
      "kind": "callout",
      "text": "Competitors are fast playing catch-up to Stryker. J&J and Globus Medical are in the process of commercializing their new robotics systems this year. Smith & Nephew is highlighting key points of differentiation. Meanwhile, Zimmer which entered the market in 2017, already has 600 units in the field. Compare this with Stryker's 1,500 units which took 18 years since Mako Surgical's founding in 2004.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "43b3ca9b-e389-4d41-b588-094300406649",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "\"In our case, we have a very different approach in that we have a handheld system. We have a burying approach. Most importantly, I think also this doesn't require presurgery CT. And the start-up times in the OR are actually very, very short. So altogether, we believe we have a fully differentiated solution here.\" — Smith & Nephew, Q3 2021 Conf Call. \"This quarter, we began commercialization of our VELYS robotic-assisted solution for total knee procedures in the U.S.\" — Johnson & Johnson, Q2 2021 Conf Call. \"We're looking at a 2022 launch for the robotics system.\" — Globus Medical, Q4 2020, Feb 17, 2021. \"I mean it's a lot of units out in the marketplace in a pretty challenged environment. We're remembering again that we started for the most part with our first unit place at March 2019. So the demand is strong.\" — Zimmer Biomet, JPM Conf, Jan 10, 2022.",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-25b2-736e-8e54-d02ed8b04cbc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.88,
        "x": 0.06,
        "y": 0.29
      },
      "kind": "table",
      "text": "Four quadrants containing quotes from Smith & Nephew, Johnson & Johnson, Globus Medical, and Zimmer Biomet.",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d0233e04-e613-45b3-9405-d8723ca09418",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.65,
        "x": 0.28,
        "y": 0.04
      },
      "kind": "title",
      "text": "Competitors Fast Playing Catch-Up To Stryker",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dc90b9df-97b4-4df0-95f0-ca7a8679ad4a",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "070361de-a3f7-4fc5-a50b-5048f5cef294",
      "evidence": "Uses competitor quotes to frame their progress as lagging behind Stryker.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 195,
      "from": 61,
      "beatId": "85f871f2-b4a8-4a0d-ac09-177a661eed97",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "Resolution",
      "beatSlug": "resolution",
      "evidence": "The document concludes with a clear call to action, urging investors to reconsider their position on Stryker's stock.",
      "position": 4,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}