Stryker makes and sells medical devices across two broad segments: MedSurg and Neurotechnology (~62% of revenue) and Orthopaedics (~38% of revenue). Stryker sells primarily to hospitals, ambulatory surgery centers, and surgeons through a large, specialized direct sales force organized by product category and clinical specialty. The MedSurg and Neurotechnology segment spans surgical power tools, OR visualization and infrastructure, hospital beds and patient-handling equipment, emergency care products (including LIFEPAK defibrillators), neurovascular devices for stroke treatment, and peripheral vascular devices for venous thromboembolism treatment. The Orthopaedics segment covers joint reconstruction implants for knees, hips, and extremities, as well as trauma fixation systems. Stryker's business model mixes capital equipment sales (~25% of revenue) with recurring implant and disposable sales (~75% of revenue). Capital equipment — including Mako robotic surgery systems, hospital beds, and OR cameras — creates an installed base that drives recurring procedural revenue. The Mako robotic platform is central to Stryker's orthopedic business: Mako installations lock in surgeons to Stryker implants, and over two-thirds of U.S. knee procedures and over one-third of U.S. hip procedures were performed on Mako in FY25. Stryker's growth strategy relies on expanding the Mako installed base domestically and internationally, penetrating the fast-growing ASC market, and executing tuck-in acquisitions that drop new products into existing sales forces. M&A is Stryker's stated first capital priority, typically closing 5–10 tuck-in deals per year alongside occasional larger acquisitions, such as the ~$4.9B acquisition of Inari Medical in 2025 to build out a peripheral vascular business.