Stryker to Buy Memometal Technologies
BY LAUREN UZDIENSKI, JUNE 6, 2011
The orthopedics M&A spree continues with Stryker's acquisition of French extremity manufacturer Memometal Technologies. Stryker will pay $150 million in cash for the company, plus up to $12 million in milestone payments. Memometal recorded about $30 million in sales last year.
Memometal manufactures Nitinol shape memory devices for a number of foot and ankle as well as hand wrist indications. In 2010, the company acquired the OrthoGlide Ankle Technology, which Memometal calls a less-invasive alternative to ankle fusion, from Advanced Bio-Surfaces. Other products include the Easy Clip SI Superelastic Fixation System, the MemoStep heat-activated system for foot and ankle fixation and the 4Fusion Shape Memory Quadripodal Implant for use in hand procedures. The company is based in Bruz, France and has a U.S. facility in Memphis.
Stryker CEO Stephen MacMillan said the acquisition would "further establish our company as a key player in the rapidly growing foot and hand segment of the extremities market and creates a strong presence in the podiatric surgery market." The deal is expected to close in 3Q:11.
