Published in Manufacturing

Stryker acquires N.C. med device firm for $220 million

BY MiBiz Staff Monday, October 01, 2018 02:02pm

KALAMAZOO — Stryker Corp. said today it acquired Durham, N.C.-based HyperBranch Medical Technology Inc. for $220 million.

The privately-held HyperBranch Medical Technology develops medical devices based on its proprietary polymers and hydrogels for trauma and surgical wounds. The company’s Dural Sealant is one of just two sealants on the market approved by the U.S. Food and Drug Administration, according to a statement.

“The acquisition of HyperBranch supports our growth strategy within our Neurotechnology business,” said Spencer Stiles, group president for Stryker’s Neurotechnology, Instruments and Spine unit.

Stryker said the acquisition should be “immaterial” to earnings for 2018.

Sidley Austin LLP in Chicago served as outside legal counsel for Stryker in connection with the deal.

Read 2200 times Last modified on Sunday, 28 October 2018 17:03
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