Stryker Corporation (NYSE: SYK) acquired Stanmore Implants Worldwide Limited for £35.6 million from SIW Holdings Limited in an all cash transaction. According to the company, Stanmore Implants was an innovative orthopaedic business focused on serving the needs of surgeons that treat adult and juvenile orthopaedic oncology.
Stryker said Stanmore Implants' portfolio included both patient specific, as well as off-the-shelf implant systems aimed at limb salvage.
The company's President for Orthopaedics, David Flyod, said "The acquisition of Stanmore Implants provides Stryker with differentiated technologies designed to provide the most effective solutions for orthopaedic oncology surgeons. This addition underscores Stryker's commitment to our core joint replacement business and expands our presence in the global orthopaedic oncology market."
Similarly, Stanmore Implants CEO, Michael Mainelli, reacted by stating "The combination of Stryker's commitment to orthopaedic oncology and Stanmore's novel orthopaedic oncology solutions provides a unique opportunity to impact a broader group of patients globally."
Shares of the company traded 0.41 percent lower on Thursday.
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