Synthes
From Wikipedia, the free encyclopedia
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| Type | Public (SIX: SYST) |
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| Founded | 1999 |
| Headquarters | Solothurn, Switzerland (corporate), West Chester, PA, United States (operational) |
| Key people | Hansjörg Wyss (Chairman of the supervisory board), Michel Orsinger (President and CEO) |
| Industry | Health care |
| Products | Physical trauma, spine, craniofacial, mandible and chest implants, medical power tools, biomaterials |
| Revenue | US $3.192 billion (2008)[1] |
| Operating income | ▲ US $1.080 billion (2008)[1] |
| Profit | ▲ US $734.9 million (2008)[1] |
| Employees | 9,950 (2008)[1] |
| Website | www.synthes.com |
Synthes Holding AG (formerly Synthes-Stratec, SIX: SYST) is a multinational medical device manufacturer based in Solothurn, Switzerland and West Chester, Pennsylvania, United States. It is the world's largest maker of implants to mend bone fractures,[2] and also produces surgical power tools and advanced biomaterials. Synthes is controlled by chairman, former CEO and largest shareholder Hansjörg Wyss, who is ranked 164th on the 2008 Forbes list of richest people in the world.[3] The company's shares are listed on the SIX Swiss Exchange and the firm is a constituent of the SMI index.
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[edit] History
Synthes was originally established in 1960 as a trademark of the non-profit institute Arbeitsgemeinschaft für Osteosynthesefragen (English: Association for the Study of Internal Fixation, AO/ASIF), which was applied to internal fixation implants produced under licence by its industrial partners, Straumann Group and Mathys Medizinaltechnik.[4] In 1975 Synthes USA, a firm founded by Harvard graduate Hansjörg Wyss, became the third company to form an alliance with AO/ASIF, while Straumann and Mathys expanded their coverage around the rest of the world throughout the decade.[5]
In 1990 Straumann spun off its implant business into a separate privately owned company, Stratec Medical.[6] Stratec partially listed its shares on the SWX Swiss Exchange through an initial public offering six years later, while Synthes USA and Mathys remained in private hands.[7] Three years later, however, Stratec and Synthes USA merged to form a new publicly-traded company named Synthes-Stratec. After the merger Hansjörg Wyss became, and remains today, the majority shareholder of the enlarged company.[8] The third of the original AO/ASIF partner companies, Mathys, was then acquired in 2004,[9] although the company's German division was divested to satisfy competition authorities.[10] The company subsequently dropped the "-Stratec" suffix to become simply Synthes. The company's shares were added to the benchmark Swiss Market Index for the first time in September 2004.[11]
In 2006 the company acquired the rights to the Synthes brand name and most of the related intellectual property, including patents, from the AO/ASIF foundation for around CHF1 billion.[12] AO also acquired a stake in Synthes. The two organisations continue to collaborate on relevant issues.
[edit] Products
The company's product offering spans six divisions, of which four produce implants and related instruments for the treatment of physical trauma, spinal injuries and CMF (craniomaxillofacial) trauma, as well as for osteotomy in animals such as horses and dogs. Synthes' other business segments are the production of surgical power tools and biomaterials used to fill bone defects.
[edit] References
- ^ a b c d "Annual Report 2008". Synthes. http://www.synthes.com/html/uploads/media/E_Annual_Report_08.pdf. Retrieved on 2009-03-01.
- ^ Lundgren, Kari; Haigh, Adam (21 February 2008). "BAE Systems, BP, Reed Elsevier: U.K., Irish Equity Preview". Bloomberg. http://www.bloomberg.com/apps/news?pid=20601102&sid=a12HHoWatMwo&refer=uk. Retrieved on 2008-06-10.
- ^ "The World's Billionaires: #164 Hansjorg Wyss". Forbes. 5 March 2008. http://www.forbes.com/lists/2008/10/billionaires08_Hansjorg-Wyss_QXWP.html. Retrieved on 2008-08-11.
- ^ "Company history: 1958-1960". Synthes. http://www.synthes.com/html/1958-1960.7864.0.html. Retrieved on 2008-06-17.
- ^ "Company history: 1970-1984". Synthes. http://www.synthes.com/html/1970-1984.7863.0.html. Retrieved on 2008-06-17.
- ^ Cohen, M.L. (2006). "Straumann Holding AG". International Directory of Company Histories. The Gale Group. http://www.answers.com/topic/straumann-holding-ag. Retrieved on 2008-08-11.
- ^ "Company history: 1990-1996". Synthes. http://www.synthes.com/html/1990-1996.7862.0.html. Retrieved on 2008-08-11.
- ^ Egenter, Sven (28 February 2008). "Synthes 2007 Net Profit Up 20 Pct, Beats Forecasts". Reuters. http://uk.reuters.com/article/health/idUKL2860118920080228. Retrieved on 2008-08-11.
- ^ Bulkeley, Andrew (11 February 2004). "Regulators halt Synthes-Stratec buy in Germany". The Deal. http://www.thedeal.com/servlet/ContentServer?pagename=TheDeal/TDDArticle/TDStandardArticle&bn=NULL&c=TDDArticle&cid=1075485702422. Retrieved on 2008-08-11.
- ^ Bulkeley, Andrew (30 March 2004). "Germany blocks Synthes' buy". The Deal. http://www.thedeal.com/servlet/ContentServer?pagename=TheDeal/TDDArticle/TDStandardArticle&bn=NULL&c=TDDArticle&cid=1080315332580. Retrieved on 2008-08-11.
- ^ "Synthes neu im SMI vertreten" (in German). Neue Zürcher Zeitung. 30 September 2004. http://www.nzz.ch/2004/09/30/bm/newzzDZQPL7ND-12.html. Retrieved on 2008-06-17.
- ^ "Synthes to acquire all AO Foundation intellectual property for 1 bln sfr". AFX News (Forbes). 15 March 2008. http://www.forbes.com/business/feeds/afx/2006/03/15/afx2595392.html. Retrieved on 2008-08-11.
[edit] External links
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