Stryker Continues Deal Spree, Adding SafeWire Medical Devices
Stryker Corp. (NYSE: SYK) is expanding its spine division by acquiring the Y-Wire and Tiger Jamshidi Needle products from SafeWire, as the buyer remains active with medical device deals.
The assets being purchased are designed to reduce the risks of wire-based complications, such as inadvertent advancement and also reduce the amount of fluoroscopy during surgery. The Jamshidi needles are designed to improve the amount of depth control in the body.
“This acquisition increases our competitive advantage as we broaden our product line and extend our customer base among teaching facilities, competitive accounts and SafeWire customers,” says Stryker spine division president Brad Paddock.
Stryker, based in Kalamazoo, Michigan, has recently completed the acquisitions of Physio-Control International Inc.; the entire neurosurgery tools portfolio of Synergetics USA Inc.; and Sage Products LLC from Madison Dearborn Partners.