October 6, 2014 by Alexander Soule
Stryker (NYSE:SYK) said it closed the acquisition of Small Bone Innovations by adding SBi’s operations in Europe and Asia.
In June, Kalamazoo, Mich.-based Stryker agreed to pay up to $375 million for SBi, which was founded in 2004 to sell products and technologies to treat trauma and diseases in the small bones and joints. SBi has facilities in Morrisville, Pa., Péronnas, France, Donaueschingen, Germany, and Kuala Lumpur.
In a July conference call, a Stryker executive said the SBi deal fills “a meaningful gap in our foot and ankle portfolio,” and that the deal would give Stryker access to an expanded set of physician specialists as potential customers. Stryker bought SBi’s North American assets in August.
SBi sales totaled $48 million in 2013.
“We believe the ankle market is at an inflection point of conversion from fusion to arthroplasty and STAR Ankle will be driving the market as a product innovator and the most clinically researched total ankle system in the world,” said SBi CEO Anthony Viscogliosi in prepared remarks.
