Synthes

Infobox Company
company_name = Synthes Holding AG
company_
company_type = Public (SWX|US87162M4096CHF1|SYST)
foundation = 1999
location = 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 $2.760 billion (2007)cite web |url=http://www.synthes.com/html/uploads/media/Financial_Review_2007.pdf |title=Annual Report 2007 |publisher=Synthes |accessdate=2008-06-10]
operating_income = profit US $904.6 million (2007)
net_income = profit US $612.6 million (2007)
num_employees = 9,070 (2007)
parent =
subsid =
homepage = [http://www.synthes.com www.synthes.com]
intl = yes

Synthes Holding AG (formerly Synthes-Stratec, SWX|US87162M4096CHF1|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, [cite news|url=http://www.bloomberg.com/apps/news?pid=20601102&sid=a12HHoWatMwo&refer=uk|title=BAE Systems, BP, Reed Elsevier: U.K., Irish Equity Preview|last=Lundgren|first=Kari|coauthors=Haigh, Adam|date=21 February, 2008|work=Bloomberg|accessdate=2008-06-10] 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. [cite web|url=http://www.forbes.com/lists/2008/10/billionaires08_Hansjorg-Wyss_QXWP.html|title=The World's Billionaires: #164 Hansjorg Wyss|date=5 March 2008|work=Forbes|accessdate=2008-08-11] The company's shares are listed on the SWX Swiss Exchange and the firm is a constituent of the SMI index.

History

Synthes was originally established in 1960 as a trademark of the non-profit institute Arbeitsgemeinschaft für Osteosynthesefragen ( _en. 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. [cite web|url=http://www.synthes.com/html/1958-1960.7864.0.html|title=Company history: 1958-1960|publisher=Synthes|accessdate=2008-06-17] 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. [cite web|url=http://www.synthes.com/html/1970-1984.7863.0.html|title=Company history: 1970-1984|publisher=Synthes|accessdate=2008-06-17]

In 1990 Straumann spun off its implant business into a separate privately owned company, Stratec Medical.cite encyclopedia |last = Cohen |first = M.L. |title = Straumann Holding AG |encyclopedia = International Directory of Company Histories |publisher = The Gale Group |date = 2006 |url = http://www.answers.com/topic/straumann-holding-ag |accessdate = 2008-08-11] 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. [cite web|url=http://www.synthes.com/html/1990-1996.7862.0.html|title=Company history: 1990-1996|publisher=Synthes|accessdate=2008-08-11] 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. [cite news|url=http://uk.reuters.com/article/health/idUKL2860118920080228|title=Synthes 2007 Net Profit Up 20 Pct, Beats Forecasts|last=Egenter|first=Sven|date=28 February 2008|work=Reuters|accessdate=2008-08-11] The third of the original AO/ASIF partner companies, Mathys, was then acquired in 2004, [cite news|url=http://www.thedeal.com/servlet/ContentServer?pagename=TheDeal/TDDArticle/TDStandardArticle&bn=NULL&c=TDDArticle&cid=1075485702422|title=Regulators halt Synthes-Stratec buy in Germany|last=Bulkeley|first=Andrew|date=11 February 2004|work=The Deal|accessdate=2008-08-11] although the company's German division was divested to satisfy competition authorities. [cite news|url=http://www.thedeal.com/servlet/ContentServer?pagename=TheDeal/TDDArticle/TDStandardArticle&bn=NULL&c=TDDArticle&cid=1080315332580|title=Germany blocks Synthes' buy|last=Bulkeley|first=Andrew|date=30 March 2004|work=The Deal|accessdate=2008-08-11] 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. [cite news|url=http://www.nzz.ch/2004/09/30/bm/newzzDZQPL7ND-12.html|title= Synthes neu im SMI vertreten|date=30 September, 2004|work=Neue Zürcher Zeitung|language=German|accessdate=2008-06-17]

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. [cite news|url=http://www.forbes.com/business/feeds/afx/2006/03/15/afx2595392.html|title=Synthes to acquire all AO Foundation intellectual property for 1 bln sfr|date=15 March 2008|work=AFX News|publisher=Forbes|accessdate=2008-08-11] AO also acquired a stake in Synthes. The two organisations continue to collaborate on relevant issues.

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.

References

External links

* [http://www.synthes.com Official website]