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November 26, 2015 12:15 AM ET

Healthcare Equipment and Supplies

Company Overview of Howmedica Osteonics Corporation

Company Overview

Howmedica Osteonics Corporation, doing business as Stryker Orthopaedics, develops, manufactures, and distributes orthopedic products and services. It offers hip, knee, upper extremity, trauma, and spinal systems, as well as bone cement and bone substitutes. The company was founded in 1970 and is based in Mahwah, New Jersey. Howmedica Osteonics Corporation operates as a subsidiary of Stryker Corporation.

325 Corporate Drive

Mahwah, NJ 07430

United States

Founded in 1970





Key Executives for Howmedica Osteonics Corporation

President and Chief Executive Officer of Stryker Corporation
Age: 50
Chief Scientific Advisor
Age: 71
Compensation as of Fiscal Year 2015.

Howmedica Osteonics Corporation Key Developments

Stryker Receives FDA Clearance for Mako Total Knee Application

Stryker Orthopaedics announced that its 510(k) submission for the Mako total knee application has received market clearance by the U.S. Food and Drug Administration. This clearance expands Stryker's current Mako offering of partial knee and total hip applications to provide a comprehensive solution in the robotic reconstructive service line. With the clearance of the total knee application, Stryker is preparing to initiate a limited market release by year end.

Stryker Launches Advanced Robotic-Arm Assisted Total Hip Application

Stryker Orthopaedics announced at the 2015 American Academy of Orthopaedics the regulatory clearance of an advanced robotic-arm assisted total hip arthroplasty application for use with its Mako system. Complementing the surgical approach of choice, the Mako System will be compatible with a surgeon's Stryker implant of choice. Stryker's Accolade II®, Secur-Fit® Advanced, Anato and Exeter® femoral implants coupled with the Trident® Acetabular System and its precisely engineered X3® polyethylene provide surgeons with the performance of Stryker's implant designs. A recent study found that manual acetabular cup placement fell within the acceptable safe range only 50% of the time. Robotic-arm assisted total hip arthroplasty has been shown to provide excellent accuracy and precision with regard to planned cup position, leg length, and offset.

Osiris Therapeutics, Inc. and Howmedica Osteonics Corp., Enter into an Exclusive Service Agreement

On December 19, 2014, Osiris Therapeutics, Inc. and Howmedica Osteonics Corp., also referred to as Stryker Orthopaedics, entered into an Exclusive Service Agreement, pursuant to which Stryker will become the exclusive worldwide marketer and promoter of allograft services for Osiris' viable bone matrix allograft, previously referred to as OvationOS, together with any improvements or next generation versions thereof, for use in surgical applications, including spine, trauma, extremity, cranial, and foot and ankle surgery. Stryker intends to market and promote Osiris' viable bone matrix allograft pursuant to the Agreement under the name Bio4. Osiris will be responsible for supply, manufacturing, inventory management, shipments to customers, and the associated risks, and a joint steering committee will guide strategic decisions regarding marketing and commercialization, and scientific and clinical strategy, the costs of which will be shared. The Agreement provides for an initial four year exclusive term, commencing on the date of Stryker's initial commercial sale. The term may be extended by Stryker for an additional exclusive period of four and /or non-exclusive period of two years. The Agreement also contains other terms and conditions typical in arrangements of this type, including pricing and commission terms, shipment, return and consignment terms, first refusal rights, limited early termination rights and termination fees, allocation of regulatory responsibilities, intellectual property and other representations and warranties, and indemnification. Osiris is entitled to receive an initial exclusivity fee of $5,000,000 and additional fees upon any exercise by Stryker of its right to extend the initial term, whether on an exclusive or non-exclusive basis. These additional fees are reduced on a sliding scale if Stryker meets certain revenue thresholds during the term then ending, or if revenue goals are not met as a result of Osiris not fulfilling its supply obligations.

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