Stryker plans to sell its U.S. spinal implants business to family investment firm Viscogliosi Brothers. The agreement includes a binding offer to acquire Stryker’s spinal products in France.
Stryker reached an agreement with family investment firm Viscogliosi Brothers to sell its U.S. spinal implants business for an undisclosed amount, the companies announced Tuesday.
The newly formed company will be called VB Spine, specializing in neuro-musculoskeletal products. The agreement includes a binding offer to acquire Stryker’s spinal products in France.
Stryker CEO Kevin Lobo told investors on Tuesday that the segment “has faced challenges in achieving our performance expectations.” Lobo added the sales will put the business in the hands of new owners with extensive experience in the spine market and allow Stryker to better align its resources.
Stryker reported goodwill and other impairments of $818 million related to the spine business in the fourth quarter. Stryker’s spinal implants business brought in $707 million in sales in 2024, and Lobo clarified that the “entire $700 million is expected to be divested to [VB Spine].” READ MORE
by Elise Reuter
Source: medtechdive.com
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