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Stryker to acquire assets of Small Bone Innovations
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Stryker announced a definitive agreement to acquire the assets of Small Bone Innovations Inc. in an all-cash transaction for up to $375 million.
Headquartered in Morrisville, Pa. with facilities in France and Germany, Small Bone Innovations’ products are designed and promoted for upper and lower extremity small bone indications, with a focus on small joint replacement.
With a net cost of up to $285 million, amongst other assets, Stryker will acquire the Scandinavian Total Ankle Replacement System (STAR Ankle). Additional assets acquired by Stryker include finger, wrist, and elbow solutions. The sales of the acquired products were approximately $48 million in 2013.
“The addition of the STAR Ankle strengthens our product offering in this fast growing business, and demonstrates our continued commitment to growth in this segment and more broadly in extremities,” David Floyd, group president of orthopaedics for Stryker, stated in a company press release. “We are dedicated to providing our foot & ankle customers and their patients with a complete set of solutions for their clinical needs.”
According to the release, the transaction is expected to close in the third quarter of this year.