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Stryker acquires medical device company
Stryker has acquired a company that will become part of its neurotechnology division.
The Kalamazoo-based maker of medical devices and equipment completed the acquisition of Menlo Park, California-based Arrinex, according to Stryker yesterday.
Terms of the deal were not disclosed.
Arrinex is the medical device company that developed ClariFix, a “novel” cryoablation technology for the treatment of chronic rhinitis.
This condition, which affects more than 24 million people in the U.S. each year, may cause runny nose, congestion, sneezing and nasal itching.
Arrinex began commercializing ClariFix in late 2017 in the U.S. It was founded in 2013.
ClariFix further expands Stryker’s Ear, Nose and Throat, or ENT, portfolio with a product that addresses a segment of the ENT market where Stryker does not currently compete.
“The acquisition of Arrinex is highly complementary to Stryker’s ENT portfolio, which is part of our neurotechnology business,” said Spencer Stiles, group president of neurotechnology, instruments and spine, Stryker.
“This acquisition aligns with our focus on providing ENT physicians with new technologies that deliver more treatment options and better patient outcomes.”
Stryker offers a diverse array of medical products and services in the orthopedics, surgical, neurotechnology and spinal markets that “help improve patient and hospital outcomes.”
Its products are used in more than 100 countries around the world.
The company reported 2018 revenue of about $13.6 billion.