Stryker Corp. has acquired Ivy Sports Medicine LLC, a Montvale, N.J.-based producer of products to repair meniscal tears in the knee.
The acquisition by the Kalamazoo-based Stryker’s endoscopy division includes what it says is the only collagen meniscus implant on the market that’s been approved by the U.S. Food and Drug Administration.
“The acquisition of Ivy Sports Medicine strengthens our capabilities and fits strategically with our current portfolio,” Matt Moreau, vice president and general manager of Stryker’s sports medicine business, said in a statement. “Ivy's complete meniscal platform, coupled with their clinical history, will allow us to provide our customers with multiple solutions to address meniscal repair. This is an area of sports medicine where there is continued opportunity to address unmet customer needs. The Ivy portfolio provides a unique platform for us to build upon as we seek to continue advancing the treatment of meniscal injuries.”
Terms of the deal were not disclosed.