Stryker acquires British orthopaedic implant manufacturer
Stryker has announced the acquisition of British orthopaedic implants company Stanmore Implants Worldwide for about US$52 million. Stanmore designs and manufactures implant systems used primarily in limb salvage for adult and juvenile oncology patients.
“The acquisition of Stanmore Implants provides Stryker with differentiated technologies designed to provide the most effective solutions for orthopaedic oncology surgeons. This addition underscores Stryker’s commitment to our core joint replacement business and expands our presence in the global orthopaedic oncology market,” said David Floyd, group president of Stryker Orthopaedics.
Stryker’s profits were up nearly 80 per cent year-on-year in the first quarter of 2016, owing to drop in income taxes owed and a reduction in charges related to recalls of the company’s Rejeuvenate and ABG II hip stems. Sales have also benefited from the premium pricing of a new 3-D printed spinal device, as Stryker launches a state-of-the-art 3D printing facility this year.
Source: Modern Healthcare