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UNITED\ue000 STATES
SECURITIES\ue000 AND\ue000 EXCHANGE\ue000 COMMISSION
Washington,\ue000 D.C.\ue000 \ue000 20549

\ue000
FORM\ue000 10-K
\ue000
[X] ANNUAL\ue000 REPORT\ue000 PURSUANT\ue000 TO\ue000 SECTION\ue000 13\ue000 OR\ue000 15(d)\ue000 OF\ue000 THE\ue000 SECURITIES\ue000 EXCHANGE
\ue000
ACT\ue000 OF\ue000 1934
\ue000
For\ue000 the\ue000 fiscal\ue000 year\ue000 ended\ue000 December\ue000 31,\ue000 2008
\ue000
OR
\ue000
[\ue000 \ue000 \ue000 ] TRANSITION\ue000 \ue000 REPORT\ue000 PURSUANT\ue000 TO\ue000 SECTION\ue000 13\ue000 OR\ue000 15(d)\ue000 OF\ue000 THE\ue000 SECURITIES\ue000 EXCHANGE
\ue000
ACT\ue000 OF\ue000 1934
\ue000
For\ue000 the\ue000 transition\ue000 period\ue000 from\ue000_______to\ue000_______
\ue000
Commission\ue000 file\ue000 number:\ue000 000-09165
\ue000
\ue000
STRYKER\ue000 CORPORATION
(Exact\ue000 name\ue000 of\ue000 registrant\ue000 as\ue000 specified\ue000 in\ue000 its\ue000 charter)
\ue000
Michigan
\ue000 38-1239739
(State\ue000 or\ue000 other\ue000 jurisdiction\ue000 of
\ue000(I.R.S.\ue000 Employer\ue000 Identification\ue000 No.)
incorporation\ue000 or\ue000 organization)
\ue000 \ue000
\ue000
\ue000 \ue000
2825\ue000 Airview\ue000 Boulevard,\ue000 Kalamazoo,\ue000 Michigan
\ue000 49002
(Address\ue000 of\ue000 principal\ue000 executive\ue000 offices)
\ue000(Zip\ue000 Code)
Registrant's\ue000 telephone\ue000 number,\ue000 including\ue000 area\ue000 code:\ue000(269)\ue000 385-2600
Securities\ue000 registered\ue000 pursuant\ue000 to\ue000 Section\ue000 12(b)\ue000 of\ue000 the\ue000 Act:
Title\ue000 of\ue000 each\ue000 class
Name\ue000 of\ue000 each\ue000 exchange\ue000 on\ue000 which\ue000 registered
Common\ue000 Stock,\ue000 $.10\ue000 par\ue000 value

New\ue000 York\ue000 Stock\ue000 Exchange
Securities\ue000 registered\ue000 pursuant\ue000 to\ue000 Section\ue000 12(g)\ue000 of\ue000 the\ue000 Act:\ue000 \ue000 None
Indicate\ue000 by\ue000 check\ue000 mark\ue000 if\ue000 the\ue000 registrant\ue000 is\ue000 a\ue000 well-known\ue000 seasoned\ue000 issuer,\ue000 as\ue000 defined\ue000 in\ue000 Rule\ue000 405\ue000 of\ue000 the\ue000 Securities\ue000 Act.

YES\ue000 [X]\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000 NO\ue000 [\ue000 \ue000 ]
Indicate\ue000 by\ue000 check\ue000 mark\ue000 if\ue000 the\ue000 registrant\ue000 is\ue000 not\ue000 required\ue000 to\ue000 file\ue000 reports\ue000 pursuant\ue000 to\ue000 Section\ue000 13\ue000 or\ue000 15(d)\ue000 of\ue000 the\ue000 Act.
YES\ue000 [\ue000 \ue000 ]\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000 NO\ue000 [X]

Indicate\ue000 by\ue000 check\ue000 mark\ue000 whether\ue000 the\ue000 registrant\ue000 (1)\ue000 has\ue000 filed\ue000 all\ue000 reports\ue000 required\ue000 to\ue000 be\ue000 filed\ue000 by\ue000 Section\ue000 13\ue000 or\ue000 15(d)\ue000 of the\ue000 Securities\ue000 and\ue000 Exchange\ue000 Act\ue000 of\ue000 1934\ue000 during\ue000 the\ue000 preceding\ue000 12\ue000 months\ue000 (or\ue000 for\ue000 such\ue000 shorter\ue000 period\ue000 that\ue000 the\ue000 registrant\ue000 was required\ue000 to\ue000 file\ue000 such\ue000 reports),\ue000 and\ue000 (2)\ue000 has\ue000 been\ue000 subject\ue000 to\ue000 such\ue000 filing\ue000 requirements\ue000 for\ue000 the\ue000 past\ue000 90\ue000 days.

YES\ue000 [X]\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000 NO\ue000 [\ue000 \ue000 ]
\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000Indicate\ue000 by\ue000 check\ue000 mark\ue000 if\ue000 disclosure\ue000 of\ue000 delinquent\ue000 filers\ue000 pursuant\ue000 to\ue000 Item\ue000 405\ue000 of\ue000 Regulation\ue000 S-K\ue000 is\ue000 not\ue000 contained
herein,\ue000 and\ue000 will\ue000 not\ue000 be\ue000 contained,\ue000 to\ue000 the\ue000 best\ue000 of\ue000 registrant's\ue000 knowledge,\ue000 in\ue000 definitive\ue000 proxy\ue000 or\ue000 information\ue000 statements
incorporated\ue000 by\ue000 reference\ue000 in\ue000 Part\ue000 III\ue000 of\ue000 this\ue000 Form\ue000 10-K\ue000 or\ue000 any\ue000 amendment\ue000 to\ue000 this\ue000 Form\ue000 10-K.\ue000\ue000\ue000\ue000\ue000\ue000\ue000 [X]
Processed and formatted by SEC Watch - Visit SECWatch.com

\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000Indicate\ue000 by\ue000 check\ue000 mark\ue000 whether\ue000 the\ue000 registrant\ue000 is\ue000 a\ue000 large\ue000 accelerated\ue000 filer,\ue000 an\ue000 accelerated\ue000 filer,\ue000 a\ue000 non-accelerated\ue000 filer, or\ue000 a\ue000 smaller\ue000 reporting\ue000 company.\ue000 \ue000 See\ue000 definitions\ue000 of\ue000 "large\ue000 accelerated\ue000 filer,"\ue000 "accelerated\ue000 filer"\ue000 and\ue000 "smaller\ue000 reporting\ue000 company" in\ue000 Rule\ue000 12b-2\ue000 of\ue000 the\ue000 Exchange\ue000 Act.\ue000 \ue000 (Check\ue000 one):

Large\ue000 accelerated\ue000 filer\ue000 [X]\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000 Accelerated\ue000 filer\ue000 [\ue000 \ue000 ]\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000
Non-accelerated\ue000 filer\ue000 [\ue000 \ue000 ]\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000 Smaller\ue000 reporting\ue000 company\ue000 [\ue000 \ue000 ]
Indicate\ue000 by\ue000 check\ue000 mark\ue000 whether\ue000 the\ue000 registrant\ue000 is\ue000 a\ue000 shell\ue000 company\ue000 (as\ue000 defined\ue000 in\ue000 Rule\ue000 12b-2\ue000 of\ue000 the\ue000 Act).
YES\ue000 [\ue000 \ue000 ]\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000 NO\ue000 [X]
Based\ue000 on\ue000 the\ue000 closing\ue000 sales\ue000 price\ue000 of\ue000 June\ue000 30,\ue000 2008,\ue000 the\ue000 aggregate\ue000 market\ue000 value\ue000 of\ue000 the\ue000 voting\ue000 stock\ue000 held\ue000 by\ue000 non-affiliates
of\ue000 the\ue000 registrant\ue000 was\ue000 approximately\ue000 $18,925,346,797.
The\ue000 number\ue000 of\ue000 shares\ue000 outstanding\ue000 of\ue000 the\ue000 registrant's\ue000 Common\ue000 Stock,\ue000 $.10\ue000 par\ue000 value,\ue000 was\ue000 396,531,769\ue000 at\ue000 January\ue000 31,

2009.
\ue000
\ue000

DOCUMENTS\ue000 INCORPORATED\ue000 BY\ue000 REFERENCE
\ue000
Portions\ue000 of\ue000 the\ue000 proxy\ue000 statement\ue000 to\ue000 be\ue000 filed\ue000 with\ue000 the\ue000 Securities\ue000 and\ue000 Exchange\ue000 Commission\ue000 relating\ue000 to\ue000 the\ue000 2009\ue000 Annual
Meeting\ue000 of\ue000 Shareholders\ue000 (the\ue000 "2009\ue000 proxy\ue000 statement")\ue000 are\ue000 incorporated\ue000 by\ue000 reference\ue000 into\ue000 Part\ue000 III.
\ue000
-\ue000 -\ue000 2\ue000 -
\ue000
FORWARD\ue000 LOOKING\ue000 STATEMENTS

This\ue000 report\ue000 contains\ue000 information\ue000 that\ue000 includes\ue000 or\ue000 is\ue000 based\ue000 on\ue000 forward-looking\ue000 statements\ue000 within\ue000 the\ue000 meaning\ue000 of\ue000 the
federal\ue000 securities\ue000 law\ue000 that\ue000 are\ue000 subject\ue000 to\ue000 various\ue000 risks\ue000 and\ue000 uncertainties\ue000 that\ue000 could\ue000 cause\ue000 the\ue000 Company's\ue000 actual\ue000 results\ue000 to\ue000 differ
materially\ue000 from\ue000 those\ue000 expressed\ue000 or\ue000 implied\ue000 in\ue000 such\ue000 statements.\ue000 \ue000 Such\ue000 factors\ue000 include,\ue000 but\ue000 are\ue000 not\ue000 limited\ue000 to:\ue000 further\ue000 weakening\ue000 o

f
economic\ue000 conditions\ue000 that\ue000 could\ue000 adversely\ue000 affect\ue000 the\ue000 level\ue000 of\ue000 demand\ue000 for\ue000 the\ue000 Company's\ue000 products;\ue000 pricing\ue000 pressures\ue000 generally,
including\ue000 cost-containment\ue000 measures\ue000 that\ue000 could\ue000 adversely\ue000 affect\ue000 the\ue000 price\ue000 of\ue000 or\ue000 demand\ue000 for\ue000 the\ue000 Company's\ue000 products;\ue000 changes\ue000 i
n

foreign\ue000 exchange\ue000 markets;\ue000 regulatory\ue000 actions;\ue000 unanticipated\ue000 issues\ue000 arising\ue000 in\ue000 connection\ue000 with\ue000 clinical\ue000 studies\ue000 and\ue000 otherwise\ue000 that affect\ue000 U.S.\ue000 Food\ue000 and\ue000 Drug\ue000 Administration\ue000 approval\ue000 of\ue000 new\ue000 products;\ue000 changes\ue000 in\ue000 reimbursement\ue000 levels\ue000 from\ue000 third-party\ue000 payors; a\ue000 significant\ue000 increase\ue000 in\ue000 product\ue000 liability\ue000 claims;\ue000 changes\ue000 in\ue000 financial\ue000 markets;\ue000 and\ue000 changes\ue000 in\ue000 the\ue000 competitive\ue000 environment.\ue000

While\ue000 the\ue000 Company\ue000 believes\ue000 the\ue000 assumptions\ue000 underlying\ue000 such\ue000 forward-looking\ue000 statements\ue000 are\ue000 reasonable,\ue000 there\ue000 can\ue000 be
no\ue000 assurance\ue000 that\ue000 future\ue000 events\ue000 or\ue000 developments\ue000 will\ue000 not\ue000 cause\ue000 such\ue000 statements\ue000 to\ue000 be\ue000 inaccurate.\ue000 \ue000 All\ue000 forward-looking
statements\ue000 contained\ue000 in\ue000 this\ue000 report\ue000 are\ue000 qualified\ue000 in\ue000 their\ue000 entirety\ue000 by\ue000 this\ue000 cautionary\ue000 statement.

REGISTERED\ue000 TRADEMARKS\ue000 AND\ue000 TRADEMARKS\ue000
\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000Stryker\ue000 Corporation\ue000 or\ue000 its\ue000 subsidiaries\ue000 own\ue000 the\ue000 registered\ue000 trademarks\ue000 3-Chip,\ue000 Accolade,\ue000 Apex,\ue000 Avon,\ue000 AVS,\ue000 Big

Wheel,\ue000 BixCut,\ue000 BoneSave,\ue000 BoneSource,\ue000 Calstrux,\ue000 CerviCore,\ue000 Chaperone,\ue000 Dall-Miles,\ue000 \ue000 DEKOMPRESSOR,\ue000 Discmonitor,
Exeter,\ue000 FlexiCore,\ue000 Formula,\ue000 Gamma,\ue000 GMRS,\ue000 Go\ue000 Bed,\ue000 Hoffmann,\ue000 Howmedica,\ue000 HydroSet,\ue000 i-Suite,\ue000 iNfinitus,\ue000 InTouch,
Interpulse,\ue000 Lock-Rite,\ue000 Maestro,\ue000 Mantis,\ue000 Monotube,\ue000 MX-PRO,\ue000 Neptune,\ue000 NRG,\ue000 Numelock,\ue000 OASYS,\ue000 Omega,\ue000 Omnifit,\ue000 OP-
1,\ue000 OrthoLock,\ue000 ORTHOMAP,\ue000 Osteonics,\ue000 PainPump,\ue000 Pioneer,\ue000 PlasmaSol,\ue000 PneumoSure,\ue000 PureFix,\ue000 Radius,\ue000 Reflex,\ue000 Restoration,
ReUnion,\ue000 Revolution,\ue000 Scorpio,\ue000 Secur-Fit,\ue000 Sightline,\ue000 Silverglide,\ue000 Simplex,\ue000 Solar,\ue000 SpeedSet,\ue000 SpineCore,\ue000 SpinePlex,\ue000 STAIR-
PRO,\ue000 Steri-shield,\ue000 Stryker,\ue000 Stryker\ue000 Orthopaedics,\ue000 Stryker\ue000 Precision,\ue000 Sumex,\ue000 SwitchPoint\ue000 Infinity,\ue000 Symmetry,\ue000 T2,
TissueMend,\ue000 TMZF,\ue000 Triathlon,\ue000 Trident,\ue000 Tritanium,\ue000 Tru-Fit,\ue000 Vision\ue000 Elect,\ue000 VLIFT,\ue000 X3,\ue000 X-Celerate,\ue000 Xia\ue000 and\ue000 Zoom;\ue000 and\ue000 the
trademarks\ue000 AXSOS,\ue000 BackSmart,\ue000 Crossfire,\ue000 InTouch,\ue000 MITCH,\ue000 S3,\ue000 SpineMap,\ue000 THOR.\ue000 \ue000 All\ue000 other\ue000 trademarks\ue000 are\ue000 trademarks
of\ue000 their\ue000 respective\ue000 owners\ue000 or\ue000 holders.

\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000Not\ue000 all\ue000 products\ue000 referenced\ue000 in\ue000 this\ue000 report\ue000 are\ue000 approved\ue000 or\ue000 cleared\ue000 for\ue000 sale,\ue000 distribution\ue000 or\ue000 use\ue000 in\ue000 the\ue000 United\ue000 States.
Processed and formatted by SEC Watch - Visit SECWatch.com
\ue000
-\ue000 3\ue000 -
\ue000
TABLE\ue000 OF\ue000 CONTENTS
\ue000
P
ART\ue000 I
I
tem\ue000 1.
Business.
\ue000
I
tem\ue000 1A.
Risk\ue000 Factors.
\ue000
I
tem\ue000 1B.
Unresolved\ue000 Staff\ue000 Comments.
\ue000
I
tem\ue000 2.
Properties.
\ue000
I
tem\ue000 3.
Legal\ue000 Proceedings.
\ue000
I
tem\ue000 4.
Submission\ue000 of\ue000 Matters\ue000 to\ue000 a\ue000 Vote\ue000 of\ue000 Security\ue000 Holders.
\ue000
\ue000\ue000
P
ART\ue000 II
I
tem\ue000 5.
Market\ue000 for\ue000 the\ue000 Registrant's\ue000 Common\ue000 Equity,\ue000 Related\ue000 Stockholder\ue000 Matters\ue000 and\ue000 Issuer\ue000 Purchases
of\ue000 Equity\ue000 Securities.
\ue000
I
tem\ue000 6.
Selected\ue000 Financial\ue000 Data.
\ue000
I
tem\ue000 7.
Management's\ue000 Discussion\ue000 and\ue000 Analysis\ue000 of\ue000 Financial\ue000 Condition\ue000 and\ue000 Results\ue000 of\ue000 Operations.
\ue000
I
tem\ue000 7A.
Quantitative\ue000 and\ue000 Qualitative\ue000 Disclosures\ue000 About\ue000 Market\ue000 Risk.
\ue000
I
tem\ue000 8.
Financial\ue000 Statements\ue000 and\ue000 Supplementary\ue000 Data.
\ue000
Report\ue000 of\ue000 Independent\ue000 Registered\ue000 Public\ue000 Accounting\ue000 Firm\ue000 on\ue000 Consolidated\ue000 Financial
Statements
\ue000
Consolidated\ue000 Balance\ue000 Sheets
\ue000
Consolidated\ue000 Statements\ue000 of\ue000 Earnings
\ue000
Consolidated\ue000 Statements\ue000 of\ue000 Shareholders'\ue000 Equity
\ue000
Consolidated\ue000 Statements\ue000 of\ue000 Cash\ue000 Flows
\ue000
Notes\ue000 to\ue000 Consolidated\ue000 Financial\ue000 Statements
\ue000
Summary\ue000 of\ue000 Quarterly\ue000 Data\ue000 (Unaudited)
\ue000
I
tem\ue000 9.
Changes\ue000 in\ue000 and\ue000 Disagreements\ue000 With\ue000 Accountants\ue000 on\ue000 Accounting\ue000 and\ue000 Financial\ue000 Disclosure.
\ue000
I
tem\ue000 9A.
Controls\ue000 and\ue000 Procedures.
\ue000
I
tem\ue000 9B.
Other\ue000 Information.
\ue000
\ue000
\ue000
P
ART\ue000III
I
tem\ue000 10.
Directors,\ue000 Executive\ue000 Officers\ue000 and\ue000 Corporate\ue000 Governance.
\ue000
I
tem\ue000 11.
Executive\ue000 Compensation.
\ue000
I
tem\ue000 12.
Security\ue000 Ownership\ue000 of\ue000 Certain\ue000 Beneficial\ue000 Owners\ue000 and\ue000 Management\ue000 and\ue000 Related\ue000 Stockholder
Matters.
\ue000
I
tem\ue000 13.
Certain\ue000 Relationships\ue000 and\ue000 Related\ue000 Transactions,\ue000 and\ue000 Director\ue000 Independence.
\ue000
I
tem\ue000 14.
Principal\ue000 Accounting\ue000 Fees\ue000 and\ue000 Services.
\ue000
\ue000\ue000
P
ART\ue000 IV
I
tem\ue000 15.
Exhibits,\ue000 Financial\ue000 Statement\ue000 Schedules.
\ue000
\ue000
-\ue000 4\ue000 -
\ue000
PART\ue000 I
\ue000
ITEM\ue000 1.
BUSINESS.
GENERAL

\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000\ue000Stryker\ue000 Corporation\ue000 (the\ue000 Company\ue000 or\ue000 Stryker)\ue000 is\ue000 one\ue000 of\ue000 the\ue000 world's\ue000 leading\ue000 medical\ue000 technology\ue000 companies\ue000 with\ue000 the most\ue000 broadly\ue000 based\ue000 range\ue000 of\ue000 products\ue000 in\ue000 orthopaedics\ue000 and\ue000 a\ue000 significant\ue000 presence\ue000 in\ue000 other\ue000 medical\ue000 specialties.\ue000 \ue000 Stryker\ue000 works with\ue000 respected\ue000 medical\ue000 professionals\ue000 to\ue000 help\ue000 people\ue000 lead\ue000 more\ue000 active\ue000 and\ue000 more\ue000 satisfying\ue000 lives.\ue000 \ue000 The\ue000 Company's\ue000 products

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