SYK · 10-Q · 2026Q2 · Full report

Acquisition / Partnership / Divestiture

STRYKER CORP · 2026-07-31 · Importance 53 · Surprise 60 · From source text

Stryker acquired Inari during the first six months of 2026, and the transaction generated $139 million of share-based compensation for Inari employees whose awards vested upon the acquisition. Investing cash outflows included cash paid to acquire Inari, although the filing excerpt does not state the transaction purchase price. The six-month sales analysis includes acquisition and divestiture effects of 1.3% for MedSurg and Neurotechnology and negative 3.1% for Orthopaedics on constant-currency sales. Spinal Implants sales declined 96.9% year to date, consistent with the sale of the Spinal Implants business and the related prior-year tax benefit.

Key facts

• Change in organizational structure in first quarter 2026: creation of Ortho Tech business combining Orthopaedic Instruments with Other Orthopaedics and other portfolio realignments; Ortho Tech includes orthopaedic instruments sales of $523 and $501 for three months 2026 and 2025 respectively and Other Orthopaedics of $194 and $148 for three months 2026 and 2025 respectively. source
• Six months 2026 selling, general and administrative expenses increased $131 or 3.0% and were 35.8% of net sales, and included a $139 charge for share-based awards for Inari employees that vested upon our acquisition. source
• Inventory stepped-up to fair value was a positive contributor to gross margin (+110 bps three months, +80 bps six months) and was an adjustment in acquisition and integration-related costs. source

Impact estimates