Stryker acquires Ivy Sports Medicine and its meniscus repair device (MassDevice)
Stryker (NYSE:SYK) said today that its endoscopy division acquired Ivy Sports Medicine and its collagen meniscus implant for an undisclosed amount.
Kalamazoo, Mich.-based Stryker touted the Ivy Sports platform as the only FDA-approved CMI on the U.S. market, calling it “highly complementary” to its own portfolio of knee treatments.
“The acquisition of Ivy Sports Medicine strengthens our capabilities and fits strategically with our current portfolio. Ivy’s complete meniscal platform, coupled with their clinical history, will allow us to provide our customers with multiple solutions to address meniscal repair,” Stryker sports medicine general manager Matt Moreau said in prepared remarks. “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.”
“Ivy Sports Medicine was formed to capitalize on the unmet opportunity in meniscal repair, which we view as one of the more attractive growth opportunities in all of orthopedics,” added Ivy Sports Medicine CEO Robert Pangia. “Our products provide surgeons with a complete set of tools to treat a large spectrum of meniscal repairs. We are excited about the prospects of combining these products with Stryker’s distribution channels and complementary portfolio of sports medicine products.”