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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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  "pageNumber": 37,
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      "text": "Spruce Point interviewed a former employee that highlighted Spine's challenges and how reporting can be used to minimize a struggling business.",
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      "text": "I don't think misleading. However, I think, certain divisions look like they perform better because they're grouped into certain segments. Spine is an example. Now they disclose and its separate. A while ago it wasn't. It was struggling and before actually was losing money and they thought K2M was gonna fix it. Because the goal of K2M was to acquire market share. There was significant overlap and redundancies between K2M and Stryker spine. But the idea was to do a pure spine play and acquire market share. But because of the redundancies and the cost and, and ironically, K2M became the surviving entity, and the headquarters moved to Leesburg.",
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      "text": "Pricing pressures were significantly hurting Stryker when I was there. Spine was probably experiencing high single digits. One maybe two percent is probably (company) average. There were so many competitors in spine with lower overhead cost that they could drive the price down. Hospitals want single source suppliers. Stryker doesn't leverage the fact that it can sell so many different types of products. Divisions don't communicate or work well together, they're very competitive with each other.",
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      "text": "How do you feel about Stryker's disclosures. Are there any areas that are misleading?",
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      "text": "I don't think misleading. However, I think, certain divisions look like they perform better because they're grouped into certain segments. Spine is an example. Now they disclose and its separate. A while ago it wasn't. It was struggling and before actually was losing money and they thought K2M was gonna fix it. Because the goal of K2M was to acquire market share. There was significant overlap and redundancies between K2M and Stryker spine. But the idea was to do a pure spine play and acquire market share. But because of the redundancies and the cost and, and ironically, K2M became the surviving entity, and the headquarters moved to Leesburg. Pricing pressures were significantly hurting Stryker when I was there. Spine was probably experiencing high single digits. One maybe two percent is probably (company) average. There were so many competitors in spine with lower overhead cost that they could drive the price down. Hospitals want single source suppliers. Stryker doesn't leverage the fact that it can sell so many different types of products. Divisions don't communicate or work well together, they're very competitive with each other. — Former Stryker M&A Professional",
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