MORRISVILLE, Pa.--(BUSINESS WIRE)--Small Bone Innovations, Inc. (SBi) today announced that Stryker Corporation (NYSE:SYK) will acquire substantially all the assets of SBi in an all cash transaction for up to $375 million.
The transaction is expected to close in the third quarter of 2014, subject to customary closing conditions including the expiration or termination of the Hart-Scott-Rodino Antitrust Improvements Act waiting period.
“This transaction is the next step of growth for Small Bone Innovations’ world-class products --- especially the STAR™ Total Ankle --- and is a perfect fit with Stryker’s product suite and global reach of its world-class distribution system,” said Michael P. Simpson, President and CEO of SBi.
Stryker also announced the transaction today. That announcement can be found here: http://phx.corporate-ir.net/phoenix.zhtml?c=118965&p=irol-news&nyo=0
Piper Jaffray & Co. acted as financial advisor, Herrick, Feinstein LLP acted as lead transaction counsel, Morgan, Lewis & Bockius LLP acted as intellectual property counsel, Norton Rose Fulbright acted as regulatory counsel, and Musculoskeletal Clinical Regulatory Advisers, LLC acted as clinical, regulatory and quality systems advisor.
Small Bone Innovations, Inc. (SBi) was founded in 2004 by Viscogliosi Brothers, LLC (VB), the New York-based merchant banking firm that specializes in the musculoskeletal/orthopedics sector.
SBi was the first company to focus purely on small bones & joints arthroplasty. It offers a broad, clinically proven portfolio of products and technologies to treat trauma and diseases in the small bones & joints. SBi has facilities in Morrisville, Pennsylvania, Péronnas, France, Donaueschingen, Germany, and Kuala Lumpur, Malaysia and has sold and distributed its products in 41 countries. For more information on SBi, visit www.totalsmallbone.com.
For a notice on Forward Looking Statements and more information about SBi, please visit: www.totalsmallbone.com/us/press.php4.