Tekcapital buys Stryker assets, mulls IPO for Bellascura subsidiary

Tekcapital (LON:TEK) said this week that it’s considering an initial public offering for the Bellascura subsidiary it formed to sell the trio of orthopedic assets it licensed from Stryker (NYSE:SYK).

Oxford, England-based Tekcapital said it bought Stryker’s Slyde patient evacuation sled; the Passport trocar used with the da Vinci robot-assisted surgery system made by Intuitive Surgical (NSDQ:ISRG); and the Snap II anesthesia monitor. All 3 devices are cleared and on the market, Tekcapital said.

Bellascura plans to go to market in the U.S. and Western Europe using 3rd-party manufacturers, Tekcapital said. The company also said it’s looking for other technologies to license.

An IPO is also under consideration for Bellascura, in which Kalamazoo, Mich.-based Stryker owns a 5% stake.

“We are very pleased to announce the establishment of Belluscura and the acquisition of its 1st 3 medical devices. Belluscura’s mission is to provide premium, proprietary medical devices at affordable prices,” chairman Clifford Gross said in prepared remarks.

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