KALAMAZOO — Stryker Corp. bought U.K.-based orthopaedic implant firm Stanmore Implants Worldwide Ltd. from SIW Holdings Ltd. for 35.6 million euros.
In announcing the deal, the Kalamazoo-based Stryker described Stanmore Implants as an “innovative orthopaedic business focused on serving the needs of surgeons that treat adult and juvenile orthopaedic oncology” with implants designed to salvage patients’ limbs.
“The acquisition of Stanmore Implants provides Stryker with differentiated technologies designed to provide the most effective solutions for orthopaedic oncology surgeons,” David Floyd, group president for Stryker Orthopaedics, said in a statement. “This addition underscores Stryker’s commitment to our core joint replacement business and expands our presence in the global orthopaedic oncology market.”
The acquisition is the latest in a series of deals this year for Stryker. They include:
• Physio-Control International Inc., a producer of monitors and defibrillators, automated external defibrillators, and CPR-assist devices, plus data management and support services, for $1.28 billion from Bain Capital Private Equity.
• The neuro portfolio from O’Fallon, Mo.-based Synergetics USA Inc.
• Sage Products LLC, a maker of disposable products for hospital intensive care, medical and surgical units, for $2.77 billion in cash from private equity firm Madison Dearborn Partners.
In a conference call last week to discuss first quarter results, Stryker Chairman and CEO Kevin Lobo said the company has “significant capacity to do more M&A.
“I would say all of our businesses have embedded (business development) people,” Lobo said. “We have not told them to slow down at all, so they are continuing to scour the market to look for opportunities that will add value. And we won’t hesitate to pull the trigger on new deals if we believe they will be value-creating for Stryker.”