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Medical device supplier makes acquisition
A maker of medical devices and equipment in the region is expanding its presence in a global health care market with its latest acquisition.
Kalamazoo-based Stryker said Friday that it has acquired Stanmore Implants Worldwide Limited from SIW Holdings Limited in an all-cash transaction for £35.6 million.
Stanmore Implants of the U.K. is an orthopaedic business focused on serving the needs of surgeons that treat adult and juvenile orthopaedic oncology.
Stanmore Implants' portfolio includes both patient specific and off-the-shelf implant systems aimed at limb salvage.
David Floyd, group president of Stryker Orthopaedics, said the acquisition underscores Stryker's commitment to its core joint-replacement business.
"The acquisition of Stanmore Implants provides Stryker with differentiated technologies designed to provide the most effective solutions for orthopaedic oncology surgeons,” Floyd said.
Michael Mainelli, CEO of Stanmore Implants, said the combination of Stryker's “commitment to orthopaedic oncology and Stanmore's novel orthopaedic oncology solutions provides a unique opportunity to impact a broader group of patients globally.”