Stryker in Kalamazoo, a global leader in medical technologies, has announced the signing of a definitive agreement to acquire all of the issued and outstanding shares of Artelon, a privately held company specializing in soft tissue fixation products for foot and ankle and sports medicine procedures.
The acquisition will strengthen Stryker’s offerings in the soft tissue fixation segment and highlights Stryker’s commitment to providing differentiated solutions for ligament and tendon reconstruction. Terms of the transaction were not disclosed.
Artelon’s technologies complement and expand the current range of products available to Stryker’s foot and ankle and sports medicine specialist customers. Its differentiated synthetic technology is designed to enhance biological and mechanical ligament and tendon reconstruction, with more than 60,000 implantations worldwide.
The acquisition also will allow Stryker to position itself more competitively in the foot and ankle and sports medicine segment with an innovative biomaterial technology that supports the healing of the patient’s soft tissues.
“Artelon’s proven product portfolio and differentiated offerings will enhance our ability to innovate and serve our customers,” says Tim Lanier, president of Stryker’s Trauma and Extremities division. “The addition of Artelon’s products to our already robust foot and ankle and sports medicine product portfolios will fuel our goal of establishing comprehensive offerings for customers in these segments.”
This transaction is subject to customary closing conditions. Stryker and Artelon will continue to operate as separate entities and proceed with business as usual until the transaction closes.
For more information, visit stryker.com.
