{ "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": 157, "pageCount": 195, "prevPage": 156, "nextPage": 158, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 12, "notes": "The slide uses a table to link specific physicians to payments from both OrthoSensor and Stryker, highlighting potential conflicts of interest.", "elementsJson": [ "headline_text", "callout_box", "quote_block", "paragraph", "comparison_table" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b99-38d956541145/157", "deckHref": "/decks/019dd923-622c-750b-8b99-38d956541145", "deckJsonHref": "/decks/019dd923-622c-750b-8b99-38d956541145.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-38d956541145#slide-157", "components": [ { "bbox": null, "kind": "callout", "text": "The scientific claims made in OrthoSensor's press release cites various studies led by individuals with deep ties to Stryker. In fact, the top three contributors to key references have been paid over $10 million by Stryker, mostly for licenses and royalties tied to Mako Surgical.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-25b2-736e-8e58-4b5daa61d0e1", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.11, "w": 0.88, "x": 0.07, "y": 0.17 }, "kind": "paragraph", "text": "The scientific claims made in OrthoSensor's press release cites various studies led by individuals with deep ties to Stryker. In fact, the top three contributors to key references have been paid over $10 million by Stryker, mostly for licenses and royalties tied to Mako Surgical. Again, this further calls into question why Stryker dodges specific guidance on OrthoSensor's product roadmap when it has deep financial ties to the scientific community backing it.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "22852591-b670-4c5e-b649-fd98d338810e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.85, "x": 0.13, "y": 0.31 }, "kind": "quote", "text": "And so while I do believe smart implants and wearables is a big part of the future, which is why we did the Orthosensor acquisition, and we'll continue to pursue this. I think it's going to take time for this to really demonstrate the value because what data are you collecting? ...And there are a lot of question marks today. I think the data is going to be useful, but we have to be able to turn that data into something that actually validates the need for it. And we're not at that stage yet. So I think this will be something that will grow over time, but it's not something that's going to transform the market in a very, very fast period of time.", "attrs": null, "subkind": "pull-quote", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "213c769b-acb7-49f1-93f3-8eca8a4a92b5", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "\"And so while I do believe smart implants and wearables is a big part of the future, which is why we did the Orthosensor acquisition, and we'll continue to pursue this. I think it's going to take time for this to really demonstrate the value because what data are you collecting? ...And there are a lot of question marks today. I think the data is going to be useful, but we have to be able to turn that data into something that actually validates the need for it. And we're not at that stage yet. So I think this will be something that will grow over time, but it's not something that's going to transform the market in a very, very fast period of time.\" — CEO Lobo, MS Conf, Sept 2021", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-25b2-736e-8e58-4d5c83f6fe0f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.45, "w": 0.45, "x": 0.53, "y": 0.48 }, "kind": "table", "text": "Physician, Total Since 2014 (# of Pmts), Notes. Gregory J. Galloday, OrthoSensor $154,388 (75) Stryker $5,365 (7), In 2020 $2,500 consulting fees from OrthoSensor. Kenneth Alan Gustke, OrthoSensor $121,722 (65) Stryker $3,999,064 (466), In 2020 93% royalty/license 7% consulting Majority related to Mako. Martin W. Roche, OrthoSensor $209,992 (215) Stryker $6,369,340 (361), In 2020 87% royalty/license 13% consulting Majority related to Mako.", "attrs": null, "subkind": "data", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "0c331f99-dc4a-4d4e-810b-ab1190b274ba", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.68, "x": 0.28, "y": 0.03 }, "kind": "title", "text": "Stryker Punts OrthoSensor Further Into The Future, Despite Significant Ties To Scientific Contributors", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "5ced6241-298e-4583-b4de-333ce3dae845", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "ceo-quote-contradiction", "slug": null, "matchId": "1bccf981-98b3-433d-953c-735762aa3328", "evidence": "Contrasts CEO's cautious public statement with financial data showing deep ties to scientific contributors.", "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 }