Stryker’s M&A Momentum Is Unrivaled in 2024

It seems as if 2024 is going to be a very busy year for Stryker in the M&A department.

The Kalamazoo, MI-based company said it has completed the acquisition of Nico Corporation, a company focused on minimally invasive surgery for tumor and intracerebral hemorrhage (ICH) procedures. 

"The acquisition of Nico Corporation expands Stryker's portfolio of solutions for tumor resection and the treatment of intracerebral hemorrhage, the deadliest form of stroke," said Andy Pierce, group president, MedSurg and Neurotechnology, Stryker. "As a global leader in neurosurgical access and removal tools, this strategic addition enables us to deliver differentiated, minimally invasive approaches that will drive meaningful outcomes and improve the lives of patients worldwide."

Stryker has had an incredible streak of deals in a short period of time. In late July, Kevin Lobo, Stryker’s CEO, said the company would engage in even more M&A in the second half of 2024.

In August, Stryker noted that it was acquiring Care.ai, a company specializing in artificial intelligence solutions for hospital settings. A few weeks after Stryker said it would acquire Vertos Medical, a developer of a minimally invasive solution for treating chronic lower back pain caused by lumbar spinal stenosis.

Related:Stryker Execs Say More M&A Is on the Way

A week ago, Stryker announced it was expanding its foot and ankle portfolio by adding the Osteotomy Truss System (OTS) and Ankle Truss System (ATS), which were acquired from 4WEB Medical.

During a Wells Fargo 2024 Healthcare Conference, Spencer Stiles, Group President, Orthopedics and Spine, reinforced Lobo’s August comments about the firm’s M&A appetite.

“It's been a really good M&A season for us,” Stiles said according to a Seeking Alpha transcript of the call. “So, I'd leave us with that. We've been active again. Our expectations remain high there. Focused on tuck-ins, but we have some other things that we're looking at as well, and we expect more deals in our horizon.”