Medical technologies provider Stryker has agreed to acquire Artelon, a privately held firm based in Georgia, US, which is engaged in developing soft tissue fixation products.
The financial terms of the transaction were not disclosed.
Artelon’s orthopaedic products are designed for foot and ankle and sports medicine procedures. Its differentiated synthetic technology is aimed at improving biological and mechanical ligament and tendon reconstruction.
The company has reported more than 60,000 implantations globally with its technology. Through the FLEXBAND Twist, FLEXBAND Solo, FLEXBAND Multi, and FLEXBAND FIX systems, the firm provide sets of tools and implants in a single-use, sterile blister, targeting specific indications.
Artelon is expected to help the US-based Stryker in offering differentiated solutions for ligament and tendon reconstruction. Its acquisition is also said to bolster Stryker’s presence in the soft tissue fixation sector.
In addition, Artelon’s advanced technologies complement Stryker’s current portfolio, and enable the latter to offer an expanded range for foot and ankle and sports medicine specialist customers.
Following the closing of the deal, Stryker will be able to offer biomaterial technology that supports the healing of soft tissues. This will help the medical technologies provider to strengthen its position in the foot and ankle and sports medicine markets.
Stryker trauma and extremities division president Tim Lanier said: “Artelon’s proven product portfolio and differentiated offerings will enhance our ability to innovate and serve our customers,”
“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.”
The completion of the transaction is contingent upon the meeting of customary closing conditions.
