Stryker Agrees to Acquire SpineCore for $120 Million

(Kalamazoo, MI, USA) has agreed to acquire SpineCore, Inc. (Summit, NJ, USA) for U.S.$120 million in cash, with milestone and royalty payments of up to an additional $240 million.

SpineCore has developed artificial disc technology embodied in its FlexiCore lumbar artificial disc and its CerviCore cervical artificial disc. The CerviCore is now in a clinical study. The company was founded in 2001 by Thomas Errico, M.D., a leading spine surgeon. SpineCore's employees will become employees of the Stryker Spine division. Stryker offers a wide range of medical products, including spine and micro implant systems as well as surgical navigation systems, endoscopic products, and emergency medical equipment.

"We believe SpineCore's products represent the first of a next generation of artificial discs,” said Stephen P. MacMillan, president and COO of Stryker. "These products, with patented features, embody the latest design advances so as to better restore natural range of motion and allow for simpler, safer insertion.”



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