Is Stryker on a Buying Spree That Could Rival Boston Scientific’s?

October 2, 2018 M&A, Medical Devices, Medical Technology, Orthopedics, Stryker

Including the most recently announced $220 million acquisition of HyperBranch Medical Technology, Stryker has picked up three companies since late August and is moving at a pace with its deal activity that could rival Boston Scientific’s.

It really seems like Stryker is starting to behave a lot like Boston Scientific when it comes to making acquisitions. In the last few months, the Kalamazoo, MI-based company been hitting the M&A trail fast and furious – which is eerily similar to what Boston Scientific has been doing throughout the year.

Stryker’s most recent proposed acquisition is of HyperBranch Medical Technology in an all-cash transaction for $220 million. The deal is said to help Stryker boost its neurotechnology business.

Durham, NC-based HyperBranch has developed the Adherus AutoSpray Dural Sealant. As a PMA approved and CE cleared hydrogel that is indicated for use as an adjunct to standard methods of dural repair to aid in creating a watertight closure of the dura, the Adherus product is highly complementary to Stryker’s Craniomaxillofacial division.

“The acquisition of HyperBranch supports our growth strategy within our Neurotechnology business,” Spencer Stiles, Group President, Neurotechnology, Instruments and Spine for Stryker, said in a release. “The addition of Adherus to our cranial closure portfolio strengthens our position of excellence in the dural repair space and aligns with Stryker’s mission of making healthcare better.”

By Omar Ford | MD+DI

Image Credit: Stryker

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About Peter Coffaro 514 Articles

A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.