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Stryker adds OrthoSpace to surgical portfolio for sports medicine

By Brad Perriello | March 14, 2019

Stryker Corp. said today that it is acquiring OrthoSpace Ltd. and its InSpace rotator cuff repair device for $220 million.

Kalamazoo, Mich.-based Stryker said it paid $110 million in cash upfront and agreed to another $110 million in potential milestones for Caesarea, Israel-based OrthoSpace.

“The acquisition of OrthoSpace is highly complementary to our existing portfolio and aligns with Stryker’s focus on investing in sports medicine,” stated Stryker MedSurg Group President Andy Pierce. “We are excited about the momentum OrthoSpace has in key global markets and the additional surgical option this technology provides our customers to address a complex pathology.”

Johnson & Johnson and Smith & Nephew are both investors in OrthoSpace. The global market for surgical robots will experience a compound annual growth rate of 20.03% between 2015 and 2024, predicts Grand View Research.

Stryker said it doesn’t expect the deal to affect its earnings this year. Stryker also owns MAKO Surgical and acquired K2M in November 2018 for $1.4 billion.

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About The Author

Brad Perriello

Brad Perriello has written for The Associated Press, The Eagle-Tribune, Boston.com, The Boston Globe, Industrial Distribution magazine and a variety of local and regional newspapers. He received a master’s degree in journalism from Boston University in 2005. He helped co-found MassDevice and leads WTWH Media’s life science editorial team.

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