Stryker has signed a definitive merger agreement to purchase US-based medical technology firm Entellus Medical for about $662m.
Entellus was founded in 2006 and develops minimally invasive products for the treatment of ear, nose and throat (ENT) disorders.
Stryker expects that Entellus’ XprESS Multi-Sinus Dilation System and LATERA Absorbable Nasal Implant will be complementary to its ENT portfolio under the Instruments business.
Stryker MedSurg and Neurotechnology group president Timothy Scannell said: “Entellus is a leader in the ENT segment and offers a comprehensive portfolio of products that enable physicians to conveniently and comfortably perform a broad range of ENT procedures.”
The acquisition is subject to approvals and additional customary closing conditions, and is expected to aid in delivering cost-effective solutions for patients.
Entellus Medical CEO Robert White said: “The combination of Stryker’s established commitment to making healthcare better and Entellus’ innovative products within the ENT segment will continue to provide our customers the tools they need for cost-effective solutions.”
In October, Stryker purchased French company Vexim for an aggregated equity value on a fully diluted basis of around €183m ($215.7m), corresponding to the approximate €162m ($190.9m) enterprise value.
Vexim develops and commercialises vertebral compression fracture (VCF) solutions such as the SpineJack mechanical expandable VCF implant designed to reduce and stabilise the fracture.
The firm’s product portfolio is said to be complementary to Stryker Instruments division’s Interventional Spine (IVS) business, which includes products for vertebral augmentation, vertebroplasty, and radiofrequency ablation procedures.