Stryker pays $220m for HyperBranch Medical

Stryker (NYSE:SYK) said today that it acquired HyperBranch Medical Technology and its Adherus AutoSpray dural sealant for $220 million.

Durham, N.C.-based HyperBranch won pre-market approval from the FDA for the Adherus Autospray sealant in March 2015 and is one of two such sealants allowed on the U.S. market.

“The acquisition of HyperBranch supports our growth strategy within our neurotechnology business,” neurotechnology, instruments & spine president Spencer Stiles said in prepared remarks. “The addition of Adherus to our cranial closure portfolio strengthens our position of excellence in the dural repair space and aligns with Stryker’s mission of making healthcare better.”

Stryker said it doesn’t expect the deal to affect its net earnings this year.

Sidley Austin was outside counsel for Stryker in the acquisition.

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