In what amounts to a significant strategic move, Stryker Corporation has bought one of the fastest growing young foot and ankle companies in orthopedics, Georgia-based Artelon, Inc.
Artelon is a leader in the U.S. ankle instability market, specializing in soft tissue fixation products.
“Ankle sprains are the number one reason for emergency room visits in the United States, and up to 20 percent of those patients will develop chronic instability after these injuries,” explained Artelon CEO Aaron Smith.
A $2 Billion Market
“While traditional surgical procedures can mitigate ankle instability, patients endure a long recovery period and can still have residual pain or instability over the long term.”
The number of doctor visits for severe ankle sprains is about the same as the number of doctor visits for severe bunions.
The acquisition announcement came only a month after Stryker initially announced its definitive agreement to acquire Artelon. The transaction was subject to customary closing conditions.
Brent Ladd, president of Stryker’s Endoscopy division, was understandably enthusiastic about the purchase saying, “This is a significant milestone for Stryker as it will provide our customers with advanced technologies designed to improve patient outcomes.”
Ladd continued, “The acquisition of Artelon will offer enhanced solutions in the soft tissue fixation segment, enhancing our ability to meet the diverse needs of our customers.”
Tim Lanier, president of Stryker’s Trauma & Extremities division, added to Ladd’s comments saying, “Integrating Artelon’s portfolio into Stryker’s offerings will allow us to deliver best-in-class soft tissue fixation solutions.”
Lanier continued, “This acquisition strengthens our competitive edge. Leveraging Artelon’s unique synthetic technology and extensive expertise positions us to continue driving innovation and solidify our leadership in the foot and ankle and sports medicine segments.”
Last year OTW highlighted Artelon and its groundbreaking treatment for ankle instability and other soft tissue products. For OTW’s coverage of Artelon, see ”Is Artelon the Next Treace Medical?”
Artelon’s flagship technology, Dynamic Matrix, has been used in more than 60,000 implantations across the globe. Artelon’s products have been cleared by the U.S. Food and Drug Administration (FDA) for a broad range of indications including, per the 510(k) summary document, “reinforcement of soft tissues that are repaired by suture or other fixation devices during tendon and ligament repair surgery including reinforcement of rotator cuff, patellar, Achilles, biceps, quadriceps tendons, medial collateral ligament, lateral collateral ligament, spring ligament, deltoid ligament, ulnar collateral ligament or other tendons or extra-articular ligaments.”
