Medical device maker acquires sports medicine company
A division of a medical device maker has acquired an out-of-state sports medicine company.
Kalamazoo-based Stryker said last week that its Endoscopy division acquired Ivy Sports Medicine in Montvale, New Jersey.
The deal enables Stryker to provide customers with a “complete” meniscal portfolio to “better serve their patients.”
Stryker said the acquired portfolio includes the “only FDA-approved” collagen meniscus implant on the market, an all-inside repair device and an inside-out meniscal suturing system.
Ivy's history and sole focus on advancing the treatment of meniscal injuries is also “highly complementary” to Stryker's portfolio of visualization, resection, fluid management and ACL reconstruction products.
Matt Moreau, VP and GM of Stryker's Sports Medicine business, said Ivy’s “complete meniscal platform,” coupled with its clinical history, will allow Stryker to provide customers with multiple products to address meniscal repair.
He said meniscal repair is an area of sports medicine where there’s “continued opportunity to address unmet customer needs.”
“The Ivy portfolio provides a unique platform for us to build upon as we seek to continue advancing the treatment of meniscal injuries,” Moreau said.
Robert Pangia, CEO of Ivy Sports Medicine, said his company is "excited about the prospects of combining these products with Stryker's distribution channels and complementary portfolio of sports medicine products.”