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Synthes
Synthes Holding AG (formerly Synthes-Stratec) is a Multinational corporation, multinational medical device manufacturer based in Solothurn, Switzerland and West Chester, Pennsylvania, United States. It is the world's largest maker of Implant (medicine), implants to mend bone fractures, and also produces surgical power tools and advanced biomaterials. In June 2012 Synthes was sold by its chairman, former Chief executive officer, CEO and largest shareholder Hansjörg Wyss to Johnson & Johnson for $20.2 billion. It is now part of their DePuy Synthes division. History Synthes was originally established in 1960 as a trademark of the Swiss non-profit institute AO Foundation, Arbeitsgemeinschaft für Osteosynthesefragen ( en, Association for the Study of Internal Fixation, AO/ASIF), The Synthes trademark was applied to Open reduction internal fixation, internal fixation implants produced under license by its industrial partners, Straumann, Straumann Group and Mathys Medizinaltechnik. I ...
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Hansjörg Wyss
Johann Georg Wyss known as Hansjörg Wyss (born 19 September 1935) is a Swiss billionaire businessman and donor to politically liberal and environmental causes in the United States. He is the founder and the former president and chairman of Synthes Holding AG, a medical device manufacturer. His Wyss Foundation has more than $2 billion in assets. As of March 2022, Wyss had a net worth of US$5.1 billion, according to ''Forbes''. Having donated hundreds of millions of dollars to environmental causes, he has more recently increased his donations to groups promoting progressive causes. He is currently the co-owner of football club Chelsea. Early life and career Wyss was born in Bern, Switzerland, in 1935. His father sold mechanical calculators and his mother was a homemaker. He was brought up in a flat with two sisters. After receiving a master's degree in civil and structural engineering from the Swiss Federal Institute of Technology Zurich in 1959, Wyss earned an MBA from Harvard ...
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AO Foundation
The AO Foundation is a nonprofit organization dedicated to improving the care of patients with musculoskeletal injuries or pathologies and their sequelae through research, development, and education of surgeons and operating room personnel. The AO Foundation is credited with popularizing operative fracture treatment, and being the pioneer in development of bone implants and instruments. The foundation had its origins in a Swiss study group, ''Arbeitsgemeinschaft für Osteosynthesefragen'' (German for "working group for bone fusion issues") or AO, founded in Switzerland in 1958 as a society, transformed into a foundation in December 1984. History Background On March 1, 1950 Maurice Müller, one of the founding members of the AO, visited a 70-year old Belgian surgeon named Robert Danis in Brussels, who had been experimenting and treating fracture patients surgically for 25 years. At the time Dr. Müller was 32 years old, and had been practicing medicine for 6 years. The standar ...
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DePuy Synthes
DePuy Synthes () is a franchise of orthopaedic and neurosurgery companies. Acquired by Johnson & Johnson in 1998, its companies form part of the Johnson & Johnson Medical Devices group. DePuy develops and markets products under the Codman, DePuy Mitek, DePuy Orthopaedics and DePuy Spine brands. DePuy Orthopaedics designs, manufactures, markets and distributes products for reconstructing damaged or diseased joints and for repairing and reconstructing traumatic skeletal injuries. DePuy Spine products facilitate fusion of the spine and correction of spinal deformities, preserving motion of the spine and repairing bone fractures. DePuy is now operating from several countries, including the United Kingdom, Japan, France, Germany, Ireland and Australia. In many other countries, DePuy operates as a brand under the Johnson & Johnson Medical organization. DePuy is currently the subject of more than 11,000 lawsuits related to its recall of faulty hip replacement systems, which lawyers ...
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Johnson & Johnson
Johnson & Johnson (J&J) is an American multinational corporation founded in 1886 that develops medical devices, pharmaceuticals, and consumer packaged goods. Its common stock is a component of the Dow Jones Industrial Average and the company is ranked No. 36 on the 2021 Fortune 500 list of the largest United States corporations by total revenue. Johnson & Johnson is one of the List of public corporations by market capitalization, world's most valuable companies, and is one of only two U.S.-based companies that has a prime credit rating of AAA, higher than that of the United States government. Johnson & Johnson is headquartered in New Brunswick, New Jersey, the consumer division being located in Skillman, New Jersey. The corporation includes some 250 subsidiary companies with operations in 60 countries and products sold in over 175 countries. Johnson & Johnson had worldwide sales of $93.8billion during calendar year 2021. Johnson & Johnson's brands include numerous household na ...
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Chief Executive Officer
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially an independent legal entity such as a company or nonprofit institution. CEOs find roles in a range of organizations, including public and private corporations, non-profit organizations and even some government organizations (notably state-owned enterprises). The CEO of a corporation or company typically reports to the board of directors and is charged with maximizing the value of the business, which may include maximizing the share price, market share, revenues or another element. In the non-profit and government sector, CEOs typically aim at achieving outcomes related to the organization's mission, usually provided by legislation. CEOs are also frequently assigned the role of main manager of the organization and the highest-ranking offic ...
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West Chester, Pennsylvania
West Chester is a borough and the county seat of Chester County, Pennsylvania. Located within the Philadelphia metropolitan area, the borough had a population of 18,461 at the 2010 census. West Chester is the mailing address for most of its neighboring townships. When calculated by mailing address, the population as of the 2010 U.S. Census was 108,696, which would make it the 10th largest city by mailing address in the state of Pennsylvania. Much of the West Chester University of Pennsylvania North Campus and the Chester County government are located within the borough. The center of town is located at the intersection of Market and High Streets. History The area was originally known as Turk's Head—after the inn of the same name located in what is now the center of the borough. West Chester has been the seat of government in Chester County since 1786 when the seat was moved from nearby Chester in what is now Delaware County. The borough was incorporated in 1799. In the heart ...
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Chief Executive Officer
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially an independent legal entity such as a company or nonprofit institution. CEOs find roles in a range of organizations, including public and private corporations, non-profit organizations and even some government organizations (notably state-owned enterprises). The CEO of a corporation or company typically reports to the board of directors and is charged with maximizing the value of the business, which may include maximizing the share price, market share, revenues or another element. In the non-profit and government sector, CEOs typically aim at achieving outcomes related to the organization's mission, usually provided by legislation. CEOs are also frequently assigned the role of main manager of the organization and the highest-ranking offic ...
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Straumann
Straumann Group researches, develops, manufactures and supplies dental implants, instruments, biomaterials, CADCAM prosthetics, digital equipment, software, and clear aligners for applications in replacement, restorative, orthodontic and preventative dentistry. The Straumann Group also offers services to the dental profession worldwide, including training and education, which is provided in collaboration with the International Team for Implantology (ITI) and the Instituto Latino Americano de Pesquisa e Ensino Odontológico (ILAPEO). Its products and services are available in more than 100 countries through a broad network of distribution subsidiaries and partners. Business areas Straumann is active in the business of replacement and restoration of teeth, and prevention of tooth loss. Collaborating with clinics, research institutes and universities since the beginning of the company’s existence, it develops implants, instruments, computer-aided design/manufacturing (CAD/CAM ...
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Subsidiary
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a same management being substantially controlled by same entity/group are called sister companies. The subsidiary can be a company (usually with limited liability) and may be a government- or state-owned enterprise. They are a common feature of modern business life, and most multinational corporations organize their operations in this way. Examples of holding companies are Berkshire Hathaway, Jefferies Financial Group, The Walt Disney Company, Warner Bros. Discovery, or Citigroup; as well as more focused companies such as IBM, Xerox, and Microsoft. These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Details Subsidiaries are separate, distinct legal entities f ...
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Medical Device
A medical device is any device intended to be used for medical purposes. Significant potential for hazards are inherent when using a device for medical purposes and thus medical devices must be proved safe and effective with reasonable assurance before regulating governments allow marketing of the device in their country. As a general rule, as the associated risk of the device increases the amount of testing required to establish safety and efficacy also increases. Further, as associated risk increases the potential benefit to the patient must also increase. Discovery of what would be considered a medical device by modern standards dates as far back as c. 7000 BC in Baluchistan where Neolithic dentists used flint-tipped drills and bowstrings. Study of archeology and Roman medical literature also indicate that many types of medical devices were in widespread use during the time of ancient Rome. In the United States it wasn't until the Federal Food, Drug, and Cosmetic Act (F ...
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Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also reports on related subjects such as technology, communications, science, politics, and law. It is based in Jersey City, New Jersey. Competitors in the national business magazine category include ''Fortune'' and ''Bloomberg Businessweek''. ''Forbes'' has an international edition in Asia as well as editions produced under license in 27 countries and regions worldwide. The magazine is well known for its lists and rankings, including of the richest Americans (the Forbes 400), of the America's Wealthiest Celebrities, of the world's top companies (the Forbes Global 2000), Forbes list of the World's Most Powerful People, and The World's Billionaires. The motto of ''Forbes'' magazine is "Change the World". Its chair and editor-in-chief is Steve Fo ...
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Open Reduction Internal Fixation
Internal fixation is an operation in orthopedics that involves the surgical implementation of implants for the purpose of repairing a bone, a concept that dates to the mid-nineteenth century and was made applicable for routine treatment in the mid-twentieth century. An internal fixator may be made of stainless steel, titanium alloy, or cobalt-chrome alloy. or plastics. Types of internal fixators include: * Plate and screws * Kirschner wires * Intramedullary nails Open reduction Open Reduction Internal Fixation (ORIF) involves the implementation of implants to guide the healing process of a bone, as well as the open reduction, or setting, of the bone. ''Open reduction'' refers to open surgery to set bones, as is necessary for some fractures. ''Internal fixation'' refers to fixation of screws and/or plates, intramedullary rods and other devices to enable or facilitate healing. Rigid fixation prevents micro-motion across lines of fracture to enable healing and prevent infectio ...
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