Stryker Corp. announced Friday that it has acquired a British orthopedic implants company.
The Kalmazoo, Mich.-based medical-device maker bought Stanmore Implants Worldwide for about $52 million. Stanmore designs and manufactures implant systems used primarily in limb salvage for adult and juvenile oncology patients.
"The acquisition of Stanmore Implants provides Stryker with differentiated technologies designed to provide the most effective solutions for orthopaedic oncology surgeons. This addition underscores Stryker's commitment to our core joint replacement business and expands our presence in the global orthopaedic oncology market," said David Floyd, group president of Stryker Orthopaedics.
The deal is the most recent for Stryker which in February acquired Physio-Control International, a maker of defibrillator and vital-signs monitors, and Sage Products, a manufacturer of preventative products for hospital-acquired infections.
Stryker's profits were up nearly 80% year-over-year in the first quarter thanks to a notable drop in income taxes owed and a reduction in charges related to recalls of its Rejeuvenate and ABG II hip stems. Sales have also benefited from the premium pricing of a new 3-D printed spinal device, as Stryker launches a state-of-the-art 3D printing facility this year.