Stryker Corporation is to acquire Pivot Medical, Inc., developer of innovative products for hip arthroscopy in a deal the details of which remain undisclosed.
Stryker will be hoping the incorporation of Pivot’s product offering will enhance its position in the arthroscopy and sports surgery devices market. Hip arthroscopy is the fastest growing procedure in Sports Medicine resulting from improved procedural solutions and growing demand for less invasive solutions. Pivot’s innovative products will complement Stryker’s existing Sports Medicine portfolio and provide Stryker’s customers with a comprehensive sports med offering.
Pivot was founded in 2007 with a focus on hip arthroscopy procedures treating femoroacetabular impingement syndrome (FAI). Pivot has a platform of innovative instruments and implants to efficiently access and restore the mobility of the hip with minimal incisions.
“The addition of Pivot Medical furthers our commitment to develop Stryker’s Sports Medicine business and provides our customers with additional enabling products and solutions,” said Timothy J. Scannell, Group President, MedSurg and Neurotechnology. “This acquisition will allow us to combine Pivot’s innovative platforms in hip arthroscopy with Stryker’s knee and shoulder Sports Medicine solutions, and full line of arthroscopy visualization and tissue resection devices.”
While the details of the transaction, expected to close in Q1 2014, have not been disclosed, it is expected to be neutral to Stryker’s 2014 earnings per share excluding acquisition, integration-related and intangible amortization charges.
Source: Stryker Corporation