- people on the move
Medical device maker acquires $31M portfolio
A medical device maker is acquiring another manufacturer’s neuro product portfolio in an all-cash transaction.
Stryker in Kalamazoo said today that it has signed a definitive agreement for all of the assets associated with Synergetics USA's neuro portfolio.
Terms of the deal were not disclosed.
The Synergetics portfolio achieved original equipment manufacturer, or OEM, sales in 2015 of about $31 million.
The transaction is expected to close in the first quarter of 2016.
The portfolio includes the Malis generator, Spetzler Malis disposable forceps and Stryker's existing Sonopet tips and RF generator.
Timothy Scannell, Stryker group president of MedSurg and Neurotechnology, said the acquisition of Synergetics' neuro portfolio is “highly complementary” to Stryker Instruments' Neuro Spine & ENT business, or NSE.
The acquisition also aligns with NSE's strategy of expanding its neurosurgical product offering.
Stryker’s NSE business became a separate business within the Stryker Instruments division three years ago to “fill a product void" in the marketplace.
Synergetics USA makes precision micro-surgical instruments, capital equipment and devices primarily for use in vitreoretinal surgery and neurosurgical applications.
Its products are made to support micro or minimally invasive surgical procedures.
In addition, it also makes disposable and non-disposable supplies and accessories for use with its products.