Stryker announced a tuck-in acquisition, saying it has agreed to acquire all of the assets in Synergetics USA's neurology portfolio, which achieved sales of $31 million in 2015. The move will give the company access to at least two electrosurgical devices that are currently distributed by rival Johnson & Johnson.
Abbott once again added to its electrophysiology offerings via acquisition. It just announced the purchase of Kalila Medical, maker of an FDA-cleared steerable sheath for navigation during cardiac ablation procedures, for an undisclosed sum.
As healthcare providers call for more technology to improve efficiencies, some of the device industry's biggest players are stepping forward with deals aimed at speeding up services and reducing costs.
With an eye on earning more recurring revenue, Stryker announced the $2.8 billion acquisition of Sage Products, a maker of disposable devices that reduce the risk of hospital-acquired infections and other adverse events in the intensive care unit.
Stryker CEO Kevin Lobo said 3-D printed titanium knee implants bolstered sales of the company's orthopedic devices, during the company's Q4 2015 earnings call. A 3-D printed spinal implant is scheduled to launch this year, and the company has a "huge lineup of other divisions with ideas and prototypes to get into 3D printed titanium products."
The FDA warned of the possibility of Stryker's Fuhrman Pleural/Pneumopericardial Drainage Set breaking in the membrane that surrounds the lung, a potentially fatal complication.
Ever since Zimmer agreed to purchase Biomet for $13.4 billion in April 2014, the wait for takeover of Smith & Nephew has been on, with Stryker being the most likely acquirer. Rumors of an impending deal were just renewed by a StreetInsider report that Stryker has put an $18 billion offer for Smith & Nephew on the table, sending its stock up as much as 6%.
Orthopedic implant maker Stryker made its $1.7 billion purchase of robotic surgical player Mako in December 2013. Now, rival Smith & Nephew is making its own move into robotic-assisted orthopedic surgery with a bid to acquire partner Blue Belt Technologies for $275 million.
Stryker detailed its robotic surgery plans during its Q3 earnings calls as it prepares for the commencement of total knee replacements on the Mako robot. The launch of the new Mako application will commence later this year, ramping up slowly and reaching full speed toward the end of 2016.
Stryker notched a win in its ongoing patent battle with Zimmer Biomet Holdings, as the U.S. Supreme Court agreed to hear the company's case for tripling its $70 million award from Zimmer for infringing patents for one of its orthopedic devices.