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BUSINESS
August 15, 1998 | Reuters
Medical-device maker Stryker Corp. said it would buy the Howmedica unit of Pfizer Inc. for $1.9 billion in cash, driving down the price of Stryker shares on concerns over the deal's high price. The transaction would combine the world's fifth- and third-largest makers of orthopedic implants, such as artificial hips and knees, continuing a consolidation occurring in the industry. It also would be by far the largest ever for Kalamazoo, Mich.
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BUSINESS
August 15, 1998 | Reuters
Medical-device maker Stryker Corp. said it would buy the Howmedica unit of Pfizer Inc. for $1.9 billion in cash, driving down the price of Stryker shares on concerns over the deal's high price. The transaction would combine the world's fifth- and third-largest makers of orthopedic implants, such as artificial hips and knees, continuing a consolidation occurring in the industry. It also would be by far the largest ever for Kalamazoo, Mich.
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BUSINESS
December 6, 2000 | Dow Jones
Standard & Poor's said Tuesday that it will add QLogic Corp., an Aliso Viejo designer of chips and circuit boards that link computers and data-storage systems, to its S&P 500 Index. S&P said in a press release that QLogic, already an S&P MidCap 400 component, will join two other newcomers, Vitesse Semiconductor Corp. and Stryker Corp., effective Monday. The companies will replace Polaroid Corp., Springs Industries Inc. and Russell Corp., all of which will move to the SmallCap 600 index.
BUSINESS
December 6, 2000 | Times Staff
Standard & Poor's continues to shuffle the members of its famous blue-chip 500 index. Late Tuesday S&P said it will add Southland tech firms Vitesse Semiconductor (VTSS) and QLogic (QLGC) to the 500 index on Monday. It also will add health-care firm Stryker Corp. (SYK). Stocks to be dropped from the index are Polaroid Corp. (PRD) and textile makers Springs Industries (SMI) and Russell Corp. (RML).
BUSINESS
June 27, 2006 | From Bloomberg News
Shares of Zimmer Holdings Inc., Stryker Corp. and Biomet Inc. plunged Monday as the companies, makers of artificial hips and knees, disclosed a federal investigation of the $7-billion-a-year orthopedic industry. The Justice Department's antitrust division demanded records back to 2001 on how Biomet, Stryker and Zimmer make and sell orthopedic devices, the companies said in separate statements.
BUSINESS
September 28, 2007 | From Reuters
Four medical device implant makers will pay about $310 million and agree to federal monitoring and other reforms to settle a government probe into improper consulting contracts with surgeons, prosecutors said Thursday. Zimmer Holdings, Johnson & Johnson unit DePuy Orthopaedics Inc., Smith & Nephew and Biomet Inc. will pay civil settlements and avoid criminal prosecution by agreeing to reforms, said U.S. Atty. Christopher Christie in New Jersey. A fifth company, Stryker Corp.
BUSINESS
February 16, 2007 | From Reuters
Debate about whether an artificial knee implant designed specifically for women has scientific merit continues a year after the device was launched, even as the orthopedics manufacturer racks up better-than-expected sales. Many orthopedic surgeons say Zimmer Holdings Inc.'s female knee is a marketing gimmick, but admit that they will implant them on request.
BUSINESS
April 13, 2004 | From Bloomberg News and Times Staff Reports
The California Public Employees' Retirement System on Monday said it would withhold votes to reelect Citigroup Inc. Chairman Sanford I. Weill and certain directors at Coca-Cola Co. and 10 other major companies, aiming to improve corporate governance by protesting the makeup of company boards. CalPERS, the biggest U.S.
BUSINESS
April 1, 2005 | From Associated Press
A probe by the Department of Justice into makers of orthopedic devices has produced only a handful of subpoenas so far but has raised concerns about the relationship between the companies and the doctors who consult for them. Orthopedic device companies frequently pay physicians for feedback on products and to help them design new ones.
BUSINESS
December 16, 2001 | James Flanigan
Advancing age, for Americans and people the world over, plus advancing technology are combining to make a potent growth industry in medical devices. "Devices" is a mundane word for biomedical engineering wonders, such as valves and stents implanted in human hearts, acrylic lenses for eyes and manufactured cushions placed in human knees and spinal cords. Medical devices is a segment --with about $18 billion in sales a year--of the vast health-care industry, which has $1.4 trillion in annual sales of everything medical, from pharmaceuticals to hospital services and physician and nursing care.
BUSINESS
August 7, 2003 | From Times Staff and Wire Reports
Blue-chip stocks edged up Wednesday as a successful Treasury debt sale pushed bond yields down, cheering stock investors worried about higher interest rates. But technology stocks finished lower for the fourth session after industry bellwether Cisco Systems' earnings failed to top Wall Street expectations. The Dow Jones industrial average gained 25.42 points, or 0.3%, to 9,061.74, after trading in negative territory for most of the morning. The Standard & Poor's 500 index rose 1.62 points, or 0.
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