Stryker has acquired Menlo Park, California-based Arrinex Inc, a medical device company. No financial terms were disclosed. Arrinex was backed by 7 Gate Ventures.
Stryker announced today it has completed the acquisition of Arrinex, Inc., a medical device company headquartered in Menlo Park, California, that has developed ClariFix®, a novel cryoablation technology for the treatment of chronic rhinitis. This condition, which affects over 24 million people in the U.S. each year, may cause runny nose, congestion, sneezing and nasal itching. Arrinex, which was founded in 2013, began commercializing ClariFix in late 2017 in the U.S. ClariFix further expands Stryker’s Ear, Nose and Throat (ENT) portfolio with a unique product to address a large, underpenetrated segment of the ENT market where Stryker does not currently compete.
“The acquisition of Arrinex is highly complementary to Stryker’s ENT portfolio, which is part of our Neurotechnology business,” said Spencer Stiles, Stryker’s Group President, Neurotechnology, Instruments and Spine. “This acquisition aligns with our focus on providing ENT physicians with new technologies that deliver more treatment options and better patient outcomes.”
Stryker is one of the world’s leading medical technology companies and, together with its customers, is driven to make healthcare better. The company offers innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes.
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Date: March 4, 2019
Source: The PE Hub Network