Stryker Completes Acquisition of North American Assets of Small Bone Innovations, Inc.
August 01 2014 - 12:04PM
Kalamazoo, Michigan - August 1, 2014 - Stryker
Corporation (NYSE:SYK) announced today the completion of its
acquisition of substantially all of the North American assets of
Small Bone Innovations, Inc. ("SBi"). A separate closing will be
held later this year, following receipt of applicable regulatory
approvals, for the acquisition of the assets of the French and
German operations, through which the international business of SBi
has been conducted.
SBi is a privately held business headquartered in
Morrisville, Pennsylvania that was founded by Viscogliosi Brothers,
LLC. SBi products are designed and promoted for upper and lower
extremity small bone indications, with a focus on small joint
replacement. The assets to be acquired include the Scandinavian
Total Ankle Replacement System (STAR Ankle). The STAR Ankle is the
only PMA approved, cementless, three-piece total ankle replacement
system and is the most published total ankle replacement product in
the world. With the addition of the STAR Ankle to the Stryker Foot
& Ankle product portfolio, Stryker comprehensively addresses
the broad range of foot and ankle procedures. Additional assets
include finger, wrist, and elbow products, further expanding the
existing Stryker upper extremity product offerings.
Stryker is one of the world's leading medical
technology companies and together with our customers, we are driven
to make healthcare better. The Company offers a diverse array of
innovative medical technologies, including reconstructive, medical
and surgical, and neurotechnology and spine products to help people
lead more active and more satisfying lives. Stryker products and
services are available in over 100 countries around the world.
Please contact us for more information at www.stryker.com.
Contacts
For investor inquiries
please contact:
Katherine A. Owen, Stryker Corporation, 269-385-2600 or
katherine.owen@stryker.com
For media inquiries please
contact:
Yin Becker, Stryker Corporation, 201-831-5000 or
yin.becker@stryker.com
Forward-Looking
Statements
This press release contains information that
includes or is based on forward-looking statements within the
meaning of the federal securities law that are subject to various
risks and uncertainties that could cause our actual results to
differ materially from those expressed or implied in such
statements. Such factors include, but are not limited to: weakening
of economic conditions that could adversely affect the level of
demand for our products; pricing pressures generally, including
cost-containment measures that could adversely affect the price of
or demand for our products; changes in foreign exchange markets;
legislative and regulatory actions; unanticipated issues arising in
connection with clinical studies and otherwise that affect U.S.
Food and Drug Administration approval of new products; changes in
reimbursement levels from third-party payors; a significant
increase in product liability claims; the ultimate total cost with
respect to the Rejuvenate and ABG II matter; the impact of
investigative and legal proceedings and compliance risks;
resolution of tax audits; the impact of the federal legislation to
reform the United States healthcare system; changes in financial
markets; changes in the competitive environment; our ability to
integrate acquisitions; and our ability to realize anticipated cost
savings as a result of workforce reductions and other restructuring
activities. Additional information concerning these and other
factors is contained in our filings with the U.S. Securities and
Exchange Commission, including our Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Stryker Corporation via Globenewswire
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