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Stryker signed a definitive agreement to acquire all issued and outstanding shares of Artelon, a privately held company specializing in soft tissue fixation products for foot and ankle and sports medicine procedures. Stryker and Artelon will continue to operate as separate entities and proceed with business as usual until the transaction closes.
The acquisition will 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 synthetic technology is designed to enhance biological and mechanical ligament and tendon reconstruction, with over 60,000 implantations worldwide.
“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.”
Source: Stryker
