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  "documentTitle": "Stryker Corp. (SYK)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2022-04-06 00:00:00",
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  "notes": "The slide uses excerpts from a legal filing to undermine the company's public narrative regarding product quality and volume.",
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      "text": "In 2013, OrthoSensor signed a manufacturing contract with Valtronic to produce between 5,000 – 30,000 per year of its knee balancer. The contract detailed that a 10% failure rate was to be assumed. In August 2017, Valtronic filed a lawsuit against OrthoSensor for non-payment and alleging failure rates up to 40%. The case was eventually settled between the two parties. For further refence, OrthoSensor also had an FDA recall event from 2014-2015.(1) In October 2018, OrthoSensor issued a press release announcing its milestone of having distributed 50,000 of its leading VERASENSE knee balancer globally. This appears to be well short of optimistic projections as OrthoSensor was looking for up to 30,000 units per year just from its Zimmer partnership, while at the same time it also hard a partnership with Stryker.",
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      "text": "In 2013, OrthoSensor signed a manufacturing contract with Valtronic to produce between 5,000 – 30,000 per year of its knee balancer. The contract detailed that a 10% failure rate was to be assumed. In August 2017, Valtronic filed a lawsuit against OrthoSensor for non-payment and alleging failure rates up to 40%.",
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      "text": "ORTHOSENSOR ANNOUNCES MILESTONE OF 50,000 VERASENSE™ SENSORS DISTRIBUTED GLOBALLY",
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      "text": "Allegations In Valtronic vs. OrthoSensor Lawsuit",
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      "text": "Throughout 2016 the specifications provided to Valtronic by Ortho and which Ortho had itself tested or had the ability to test, resulted in a failure rate of greater than 10%. Specifically, and by way of example, during the period of January 1, 2016 to June 1, 2016, 6,098 units were tested by Valtronic with 4,976 of the units meeting the specification. This is a failure rate of 18%. Between June 1, 2016 and August 31, 2016 the failure rate was 40% (2,383 of 3,977 passing). And between September 1, 2016 and November 14, 2016 the failure rate was 36% (4,171 of 6,488 passing). — Valtronic Technologies (USA) vs. OrthoSensor, Inc. lawsuit filing",
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      "text": "Case: Valtronic Technologies (USA) vs. OrthoSensor, Inc. 1:17-cv-01787-JG Doc#1, Filed 8/25/17. Red emphasis Spruce Point. Source: OrthoSensor Press Release. Note: The Valtronic contract was specifically for the Zimmer product partnership. 1) Class 2 FDA OrthoSensor recall",
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      "text": "Excerpts from legal filing detailing contract terms and failure rates (18%, 40%, 36%)",
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      "kind": "title",
      "text": "OrthoSensor Failures Alleged In A Lawsuit",
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