Stryker acquires OrthoSpace for up to $220 million
Stryker ($SYK) announced they are acquiring OrthoSpace for up to $220 million. The all cash deal includes an upfront payment of $110 million and future milestone payments of up to an additional $110 million.
InSpace is OrthoSpace's flagship product, which is a biodegradable sub-acromial spacer and designed to realign the natural biomechanics of the shoulder. InSpace is not approved for use in the U.S. but has helped treat over 20,000 throughout the world. The product is currently under clinical study in the U.S.
Learn about the Orthospace Arthroscopic Procedure
“The acquisition of OrthoSpace is highly complementary to our existing portfolio and aligns with Stryker’s focus on investing in sports medicine,” said Andy Pierce, Stryker’s Group President, MedSurg. “We are excited about the momentum OrthoSpace has in key global markets and the additional surgical option this technology provides our customers to address a complex pathology.”