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  "documentTitle": "Stryker Corp. (SYK)",
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  "authorName": "Ben Axler",
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      "text": "Spruce Point also interviewed another former employee with knowledge of its M&A practices. A view was expressed that Stryker prioritized revenue over cost synergies and that one of its biggest challenges is its operational footprint.",
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      "text": "Spruce Point also interviewed another former employee with knowledge of its M&A practices. A view was expressed that Stryker prioritized revenue over cost synergies and that one of its biggest challenges is its operational footprint.",
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      "text": "I feel it probably is more revenue. And I'll kind of expand on that cost synergies happen way late in the game. Okay. At Stryker, they had this internal group called, it's kind of like PLCM group, like a project lifecycle kind of group. We would look at which products needed to be sunsetted, other synergies, reduction of plants. So one of the biggest challenges that Stryker requires is the footprint. With Wright, the amount of sites that were acquired, was intense and the cost associated with it. So there's a lot of redundancies and cost associated with, for example, Mobius was Shirley outside of Boston, Massachusetts, the rent was exorbitant. It was not a very optimal facility. It took almost 2 years to move it to Kalamazoo. Only more recently within the last few years, have they really been focusing on streamlining operations with respect to how many plants are open in sites, and consolidating those due to cost. So initially it's a revenue play, because divisions, aren't looking at it as a siloed kind of company within Stryker from the cost perspective, right. Corporate looks at cost, which then happens after an acquisition is done. — Former Stryker M&A Professional",
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      "text": "Spruce Point Question: \"Does Stryker prioritize revenue or cost synergies in looking at transactions?\" Former Stryker M&A Professional: [Quote about revenue vs cost synergies]",
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