Stryker, a Fortune 500 medical technology company, announced that it will acquire K2M, a Virginia-based medical device manufacturer, with a total acquisition value of approximately $ 1.4 billion.
Stryker and K2M are both companies that apply 3D printing technology to the production of spinal implants.
Founded in 1941, Stryker's product category covers joint replacement implants to surgical navigation systems, of which 3D printed titanium alloy spinal implants have been repeatedly approved by the FDA for a variety of applications. The porous design of this series of spinal implants helps promote the growth of cellular tissues.
Recently, Stryker has also partnered with 3D Systems to become a distributor of 3D Systems Virtual Surgery Plans (VSP) and 3D printed anatomical models.
K2M was founded in 2004. The company's products include minimally invasive implants (such as adjustable MOJAVE 3D printed spinal support implants), biologics, and complex spinal injury treatment protocols.
Stryker's acquisition of K2M is expected to be completed by the end of the fourth quarter of 2018. K2M Chairman, Chief Executive Officer and President Eric D. Major said that the global spine market is worth about US $ 10 billion (about 68 billion yuan), and K2M ’s innovative spine and minimally invasive solutions will help Stryker strengthen Leadership in the plastic and neurosurgery markets.