Portage, Michigan, Jan. 28, 2025 (GLOBE NEWSWIRE) — Stryker (NYSE:SYK), a worldwide chief in medical applied sciences, introduced right now a definitive settlement to promote its U.S. spinal implants enterprise to Viscogliosi Brothers, LLC, a family-owned funding agency specializing within the neuro-musculoskeletal area, to create a newly fashioned firm referred to as VB Backbone, LLC.
“We imagine that the spinal implants enterprise, with its complete portfolio and powerful gross sales channel, will thrive as an impartial firm,” stated Kevin A. Lobo, Chair and Chief Government Officer, Stryker. “With devoted assets and a targeted technique, the enterprise shall be nicely positioned to succeed as a part of Viscogliosi Brothers.”
After closing, VB Backbone will change into a strategic companion to Stryker with unique entry to Mako Backbone and Copilot to be used with VB Backbone’s implants in spine procedures. The transaction will improve the main focus of each Stryker and VB Backbone to fulfill the wants of consumers and their sufferers and is predicted to attain sooner development and ship better worth for all stakeholders.
“We now have lengthy admired Stryker for its complete spine portfolio, unbelievable expertise, and powerful tradition,” stated Marc, John and Anthony Viscogliosi, Co-Founders of Viscogliosi Brothers, LLC. “We see an amazing alternative to supply the main focus, surgeon-centric innovation, and business execution wanted to develop the enterprise and additional affect affected person lives and outcomes.”
The definitive settlement additionally features a binding provide to accumulate Stryker’s spinal implants enterprise in France, topic to required consultations with workers and/or worker representatives. The sale of Stryker’s spinal implants enterprise in different worldwide markets is anticipated, pending satisfaction of authorized and regulatory necessities, together with any required consultations. The transaction is predicted to shut within the U.S. within the first half of 2025, topic to customary closing circumstances. Stryker’s U.S. spinal implants enterprise and VB Backbone will proceed to function as separate entities and proceed with enterprise as traditional till the transaction closes.
In reference to the transaction, Barings, LLC is an investor and monetary companion to Viscogliosi Brothers.
About Stryker
Stryker is a worldwide chief in medical applied sciences and, along with our prospects, we’re pushed to make healthcare higher. We provide revolutionary services in MedSurg, Neurotechnology and Orthopaedics that assist enhance affected person and healthcare outcomes. Alongside our prospects all over the world, we affect greater than 150 million sufferers yearly. Extra info is out there at www.stryker.com.
About Viscogliosi Brothers
Viscogliosi Brothers is a family-owned New York Metropolis-based household workplace devoted to driving development and innovation within the neuro-musculoskeletal trade. Established in 1999, the agency focuses on figuring out and constructing groundbreaking improvements in healthcare, aiming to deal with unmet scientific wants, improve affected person outcomes, and drive value effectivity within the healthcare system. Since its inception 26 years in the past, Viscogliosi Brothers has based, financed, operated and grown 42 companies with operations and distribution throughout greater than 80 international locations. These companies have positively impacted tens of millions of sufferers with cutting-edge improvements in healthcare. The agency has led the transformation of a number of companies within the spine trade particularly together with: Backbone Options, Backbone Subsequent, Paradigm Backbone, Simplify Medical, Centinel Backbone, Companion Backbone, Backbone BioPharma and Woven Orthopedics Applied sciences, amongst others. For extra info, go to https://www.vbllc.com/.
About Barings
Barings is a $421+ billion* world asset administration agency that companions with institutional, insurance coverage, and middleman purchasers, and helps main companies with versatile financing options. The agency, a subsidiary of MassMutual, seeks to ship extra returns by leveraging its world scale and capabilities throughout private and non-private markets in fastened earnings, actual property and capital options.
*Property below administration as of December 31, 2024
Contacts
For investor inquiries please contact:
Jason Seaside, Vice President, Finance and Investor Relations at 269-385-2600 or
jason.seashore@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.com
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