press release from Globus
Globus Medical Acquires StelKast, Hip and Knee Device Company (OrthoWorld)
Globus Medical (GMED) acquired substantially all of the assets of privately-owned StelKast, manufacturer of implants and instruments for hip and knee replacement. GMED paid USD $24.1MM in cash, with an additional potential $4.3MM in product sales milestones. A robotic system for joint reconstruction applications is expected for commercial availability in late 2020.
The acquisition is the first part of GMED’s strategy to acquire implant and metallurgical technology with a proven safety record and long history of clinical use to combine with their robotic technology. The company seeks to build on its experience with robotics to expand into cranial procedures, as well as arthroplasty, with disruptive and differentiated products.
GMED has been developing a robotic system for total joints for the past several quarters, with an accelerated investment in the program during 1H19. The company doesn’t plan to aggressively ramp up commercial activity on the acquired hip and knee devices themselves until launch of the accompanying robotic system.
In response to questions about strategy, Preside...
