October 24, 2018
Stryker acquires HyperBranch Medical Technology, Inc.
Kalamazoo, Michigan – October 1, 2018 – Stryker (NYSE:SYK) announced today the acquisition of privately-held HyperBranch Medical Technology, Inc. for a total equity value of approximately $220 million in an all cash transaction.
HyperBranch is dedicated to developing medical devices based on its proprietary polymers and cross-linked hydrogels. Its Adherus AutoSpray Dural Sealant product is one of only two FDA-approved dural sealants on the market.
“The acquisition of HyperBranch supports our growth strategy within our Neurotechnology business,” said Spencer S. Stiles, Group President, Neurotechnology, Instruments and Spine for Stryker. “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.”
This transaction will likely have an immaterial impact to net earnings in 2018.
[Originally posted by Nasdaq— October 1, 2018]