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Stryker Buys Israeli Medical Device Maker OrthoSpace
Friday 15 March 2019

15 March 2019 - Israeli medical device company OrthoSpace, Ltd has been acquired by US-based medical technologies firm Stryker (NYSE: SYK) in an all cash transaction, the company said.

The terms of the transaction include an upfront payment of USD 110m and future milestone payments of up to an additional USD 110m.

OrthoSpace was founded in 2009 and the company's InSpace product provides a highly differentiated technology for the treatment of massive irreparable rotator cuff tears.

In the US, InSpace is currently under clinical study and not approved for use.

InSpace is a biodegradable sub-acromial spacer, which is designed to realign the natural biomechanics of the shoulder. The technology has a long clinical history with patients treated across 30 countries. 
Details
Date Published: 15/03/2019
Target: OrthoSpace, Ltd
Country: Israel
Deal Size: 110m (USD)
Sector: Healthcare
Type: Corporate acquisition
Financing: Cash
Status: Closed
Vendor:
Buyer: Stryker
Comment:


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