Stryker to acquire Artelon Inc.

KALAMAZOO–The Kalamazoo medical device maker Stryker Corp. (NYSE: SYK) announced an agreement to acquire all of the shares of Artelon Inc., a Marietta, Ga.-based privately held maker of soft tissue fixation products for foot and ankle and sports medicine procedures.

Stryker officials said the company will strengthen its offerings in the soft tissue fixation segment and highlights Stryker’s commitment to providing differentiated solutions for ligament and tendon reconstruction.

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 over 60,000 implantations worldwide. The acquisition will also 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,” said Tim Lanier, president of Stryker’s Trauma & 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. We share a common dedication to integrity, quality, and advancing the knowledge of healthcare providers to achieve the best clinical outcomes and rebuild patients’ lives.”

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.

Stryker offers products and services in MedSurg, Neurotechnology, Orthopaedics and Spine that help improve patient and healthcare outcomes. Alongside its customers around the world, Stryker impacts more than 150 million patients annually. More information is available at www.stryker.com.

 

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