Stryker entered into a definitive agreement to acquire the assets of Restore Surgical, d/b/a Instratek. The transaction is expected to close in 4Q16.
Founded in 1991, Instratek markets staple and hammertoe implants and minimally invasive soft tissue recession instrumentation for foot, ankle and upper extremity procedures.
Instratek's first FDA 510(k) clearance occurred in 1993, for an Endotrac arthroscopic system. Since then, a steady cadence of product launches has included:
- HammerFIT Extremity Reamers
- ToeTac for Hammertoe Deformities
- An Endoscopic Plantar Fasciotomy Disposable system
- Mini Cannulated Titanium Headed and Headless Screws
At the end of 2015, Stryker stood at #3 among the top 5 orthopaedic companies ranked by revenue, per ORTHOWORLD estimates. This transaction marks Stryker's 5th orthopaedic-related acquisition in 2016, bolstering a number of its business segments:
Ivy sports-medicine, 3Q16: minimally invasive meniscal repair
Stanmore Implants, 2Q16: patient-specific and off-the-shelf implant systems for limb salvage
CareFusion/BD, 2Q16: AVAmax®, AVAflex®, AVAtex® and AVAprep® vertebral augmentation products
Safewire, 2Q16: including the Y-Wire guidewire and Tiger Jamshidi Needle for minimally invasive spine surgery
Sources: Stryker Corporation; ORTHOWORLD Inc.