Stryker announces definitive agreement for the sale of its U.S. spinal implants business and plans to sell related international business
Portage, Michigan, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Stryker (NYSE:SYK), a global leader in medical technologies, announced today a definitive agreement to sell its U.S. spinal implants business to Viscogliosi Brothers, LLC, a family-owned investment firm specializing in the neuro-musculoskeletal space, to create a newly formed company called VB Spine, LLC.
'We believe that the spinal implants business, with its comprehensive portfolio and strong sales channel, will thrive as an independent company," said Kevin A. Lobo, Chair and Chief Executive Officer, Stryker. "With dedicated resources and a focused strategy, the business will be well positioned to succeed as part of Viscogliosi Brothers.'
After closing, VB Spine will become a strategic partner to Stryker with exclusive access to Mako Spine and Copilot for use with VB Spine's implants in spine procedures. The transaction will enhance the focus of both Stryker and VB Spine to meet the needs of customers and their patients and is expected to achieve faster growth and deliver greater value for all stakeholders.
'We have long admired Stryker for its comprehensive spine portfolio, incredible talent, and strong culture,' said Marc, John and Anthony Viscogliosi, Co-Founders of Viscogliosi Brothers, LLC. 'We see a tremendous opportunity to provide the focus, surgeon-centric innovation, and commercial execution needed to grow the business and further impact patient lives and outcomes.'
The definitive agreement also includes a binding offer to acquire Stryker's spinal implants business in France, subject to required consultations with employees and/or employee representatives. The sale of Stryker's spinal implants business in other international markets is anticipated, pending satisfaction of legal and regulatory requirements, including any required consultations. The transaction is expected to close in the U.S. in the first half of 2025, subject to customary closing conditions. Stryker's U.S. spinal implants business and VB Spine will continue to operate as separate entities and proceed with business as usual until the transaction closes.
In connection with the transaction, Barings, LLC is an investor and financial partner to Viscogliosi Brothers.
About Stryker
Stryker is a global leader in medical technologies and, together with our customers, we are driven to make healthcare better. We offer innovative products and services in MedSurg, Neurotechnology and Orthopaedics that help improve patient and healthcare outcomes. Alongside our customers around the world, we impact more than 150 million patients annually. More information is available at www.stryker.com.
About Viscogliosi Brothers
Viscogliosi Brothers is a family-owned New York City-based family office dedicated to driving growth and innovation in the neuro-musculoskeletal industry. Established in 1999, the firm focuses on identifying and building groundbreaking innovations in healthcare, aiming to address unmet clinical needs, enhance patient outcomes, and drive cost efficiency in the healthcare system. Since its inception 26 years ago, Viscogliosi Brothers has founded, financed, operated and grown 42 businesses with operations and distribution across more than 80 countries. These businesses have positively impacted millions of patients with cutting-edge innovations in healthcare. The firm has led the transformation of multiple businesses in the spine industry specifically including: Spine Solutions, Spine Next, Paradigm Spine, Simplify Medical, Centinel Spine, Companion Spine, Spine BioPharma and Woven Orthopedics Technologies, among others. For more information, visit https://www.vbllc.com/.
About Barings
Barings is a $421+ billion* global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions.*Assets under management as of December 31, 2024
Contacts
For investor inquiries please contact:Jason Beach, Vice President, Finance and Investor Relations at 269-385-2600 orjason.beach@stryker.com
John Nguyen, Senior Director, Investor Relations at 269-385-2600 or john.nguyen1@stryker.com
For media inquiries please contact:Jenny Braga, Director, Communications and Public Relations at 269-385-2600 or jenny.braga@stryker.comSign in to access your portfolio
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
10 minutes ago
- Yahoo
Tesla stock rises as US moves to ease rules for self-driving cybercab
-- Tesla (NASDAQ:TSLA) stock rose 2.6%, hitting a session high on Friday after a report that the US government is taking steps to ease regulations that have hindered the deployment of self-driving vehicles without driver controls. According to Bloomberg, the Trump administration is streamlining the exemption process for automakers seeking to deploy self-driving cars designed without traditional steering wheels or brake pedals. This regulatory shift could significantly benefit Tesla's ambitions to launch its robotaxi service. The National Highway Traffic Safety Administration (NHTSA) announced it will simplify the exemption procedure, which previously resulted in processing times that could stretch for years. In a letter posted to its website on Friday, NHTSA Chief Counsel Peter Simshauser stated the agency "anticipates reaching decisions on most exemption requests within months rather than years." Current federal safety standards effectively require new vehicles to include human driving controls, forcing companies developing autonomous vehicles to seek exemptions - a process that has created substantial delays for manufacturers. While Tesla shares climbed on the news, ride-hailing companies Uber (NYSE:UBER) and Lyft (NASDAQ:LYFT) saw their shares edge lower, potentially reflecting investor concerns about future competition from autonomous taxi services. The regulatory changes align with Tesla CEO Elon Musk's previously announced plans to develop a fleet of self-driving "Cybercabs" that could compete directly with traditional ride-sharing services. Related articles Tesla stock rises as US moves to ease rules for self-driving cybercab Air India 787-8 accident - What we know so far Brookfield Infrastructure reportedly acquiring Hotwire for $7 billion
Yahoo
10 minutes ago
- Yahoo
Ford still struggling with rare earth supplies
-- Ford Motor Co . (NYSE:F) is still facing ongoing challenges with the supply of rare earth magnets from China, crucial for production of its cars. Ford CEO Jim Farley described the situation as "day to day" and "hand-to-mouth" in a Friday interview with Bloomberg TV. Last month, Ford idled its Chicago factory, which produces the Explorer sport utility vehicle, for a week because of the rare earth materials shortage. Farley expressed optimism about recent U.S.-China trade talks but noted that Ford has not yet seen improvements in magnet supply flow. The company has submitted applications to China's ministry of commerce (Mofcom), which are being approved one at a time. U.S. President Donald Trump stated that recent negotiations with China resulted in an agreement for Beijing to quickly approve export licenses for rare earths. Related articles Ford still struggling with rare earth supplies Wolfe downgrades GE Vernova on valuation concerns after rally Visa, Mastercard shares slide as WSJ says Walmart, Amazon exploring stablecoins
Yahoo
10 minutes ago
- Yahoo
2 Volatile Stocks with Exciting Potential and 1 to Be Wary Of
A highly volatile stock can deliver big gains - or just as easily wipe out a portfolio if things go south. While some investors embrace risk, mistakes can be costly for those who aren't prepared. At StockStory, our job is to help you avoid costly mistakes and stay on the right side of the trade. That said, here are two volatile stocks with massive upside potential and one that could just as easily collapse. Rolling One-Year Beta: 1.18 With its iconic yellow machinery working on construction sites, Caterpillar (NYSE:CAT) manufactures construction equipment like bulldozers, excavators, and parts and maintenance services. Why Are We Hesitant About CAT? Core business is underperforming as its organic revenue has disappointed over the past two years, suggesting it might need acquisitions to stimulate growth Demand will likely fall over the next 12 months as Wall Street expects flat revenue Competitive supply chain dynamics and steep production costs are reflected in its low gross margin of 29% At $360 per share, Caterpillar trades at 18.6x forward P/E. Check out our free in-depth research report to learn more about why CAT doesn't pass our bar. Rolling One-Year Beta: 1.69 Founded in 2009 and a publicly traded company since 2017, Sea (NYSE:SE) started as a gaming platform and has since expanded to offer a variety of services such as e-commerce, digital payments, and financial services across Southeast Asia. Why Are We Backing SE? Paying Users are rising, meaning the company can increase revenue without incurring additional customer acquisition costs if it can cross-sell additional products and features Grip over its ecosystem is highlighted by its ability to grow engagement while increasing the average revenue per user by 11.7% annually Free cash flow margin expanded by 27.3 percentage points over the last few years, providing additional flexibility for investments and share buybacks/dividends Sea's stock price of $154.03 implies a valuation ratio of 40.9x forward EV/EBITDA. Is now the time to initiate a position? See for yourself in our in-depth research report, it's free. Rolling One-Year Beta: 1.20 Founded in 1952, Distribution Solutions (NASDAQ:DSGR) provides supply chain solutions and distributes industrial, safety, and maintenance products to various industries. Why Will DSGR Beat the Market? Market share has increased this cycle as its 17.8% annual revenue growth over the last two years was exceptional Incremental sales significantly boosted profitability as its annual earnings per share growth of 24.9% over the last two years outstripped its revenue performance Free cash flow margin grew by 3.8 percentage points over the last five years, giving the company more chips to play with Distribution Solutions is trading at $27.77 per share, or 16x forward P/E. Is now the right time to buy? Find out in our full research report, it's free. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today for free. Find your next big winner with StockStory today. Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
