WASHINGTON (dpa-AFX) - Stryker Corp. (SYK), a medical technology company, on Monday announced the completion of its acquisition of ZuriMED, a privately held company that developed the FiberLocker System, to strengthen its Sports Medicine portfolio and expand its shoulder care capabilities.
The FiberLocker System is a commercialized rotator cuff augmentation technology designed to increase the biomechanical strength of rotator cuff repairs.
Stryker said the acquisition expands its ability to support shoulder specialists and surgeons with innovative solutions across sports medicine and shoulder care.
Andy Pierce, Group President of MedSurg and Neurotechnology at Stryker, said ZuriMED brings specialized expertise and differentiated technology that complement the company's growing shoulder care capabilities.
He added that the acquisition provides an opportunity to advance the FiberLocker technology, expand access to innovative treatment options and deliver greater value to customers and patients.
In pre-market activity, the shares were trading 0.11 percent or $307.55 on the New York Stock Exchange.
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