Five large orthopedic medtech acquisitions were announced or completed in the third quarter of 2024.
1. Stryker completed its acquisition of Artelon, a company that develops soft tissue fixation products for sports medicine and foot and ankle procedures.
2. Zimmer Biomet signed a definitive agreement to acquire OrthoGrid Systems. OrthoGrid Systems develops artificial intelligence-driven guidance for total hip replacement. The acquisition includes Hip AI and two more FDA-cleared orthopedic applications and more than 40 patents.
3. Stryker completed its acquisition of care.ai, a virtual care company. The acquisition will bolster Stryker's healthcare IT offerings and its wireless medical device portfolio. Care.ai develops artificial intelligence-assisted virtual care workflows and smart room technology.
4. Stryker signed a definitive agreement to acquire Vertos Medical, a pain management company. Vertos Medical focuses on treating chronic lower back pain from lumbar spinal stenosis and is behind the Mild procedure.
5. Stryker completed its acquisition of Nico Corp., a company focused on minimally invasive tumor and intracerebral hemorrhage procedures. The acquisition expands Stryker's neurosurgery portfolio, adding Nico's BrainPath and Myriad products.