Stryker closing 2 Gaymar plants to cut costs

Medical devicemaker Stryker Corp. ($SYK) is closing two Gaymar Industries manufacturing plants in New York by the end of the year and laying off more than 100 employees. The company is cutting costs ahead of the pending 2.3% tax on medical device sales, although the plant closures were announced some months back. The Buffalo News says Stryker picked up the two plants in its 2010, $150 million acquisition of Gaymar. It is offering one of the New York plants for sale at $3.9 million. The cuts are part of Stryker's plan to absorb the 2.3% hit by slashing its workforce by 5% and reducing its operating costs by $100 million, the newspaper reports.
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Using AI and RWD to Uncover Rare Disease Insights, Accelerate Commercialization and Improve Patient Outcomes

Wednesday, March 24 | 2pm ET / 11am PT

Learn how transformed real world data into real world insights to assist Audentes in their development of AT132 for the treatment of XLMTM. The session reviews how IPM.ia and Audentes collaborated to uncover the XLMTM patient population.