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Publicly traded global medical device company Stryker has signed a definitive agreement to acquire fellow medical technology company Amplitude Vascular Systems, adding revascularization technology to Stryker's peripheral vascular portfolio.
Stryker offers medical and surgical equipment, develops devices for orthopedics and neurotechnology, and provides on-site services, training and education.
Amplitude Vascular Systems offers technology for severely calcified arteries, a condition where hard calcium buildup makes blood vessels narrow and difficult to open.
The company's technology uses pulsed CO₂-generated pressure waves to fracture calcium within blood vessels, delivered through an IVL balloon catheter.
The company said its tech is designed to enhance catheter deliverability, treatment speed and therapy efficiency.
Stryker and Amplitude will continue to operate as separate entities until the transaction closes.
"This acquisition represents an important step in advancing our vision to build a comprehensive peripheral vascular platform and address significant unmet clinical needs," Kevin Lobo, chair and CEO of Stryker, said in a statement.
"Combining this innovation with Stryker’s scale and clinical expertise, we believe we can help expand treatment options for physicians and improve care for patients with calcified peripheral arterial disease."
THE LARGER TREND
Stryker stock is currently trading on the New York Stock Exchange [NYSE: SYK] at around $345.02 per share, down from a high last year of $403.53.
The Kalamazoo, Michigan-based company went public in 1979 with its initial IPO. The company was listed on the NASDAQ before later transferring to the NYSE in 1997.
In March, Stryker was hit by a major cyberattack that caused a global systems outage across its internal network. The incident was believed to have been perpetrated by the pro-Iranian hacktivist group Handala. The group claimed responsibility for the data-wiping attack in response to actions related to the Iran war, according to a report by KrebsonSecurity.
The attackers erased data from more than 200,000 systems, servers and mobile devices. A source told KrebsOnSecurity that the remote attack appeared to have used Microsoft Intune's unified, web-based administrative console to wipe all devices connected to it.
