Stryker Bets $316 Million It Can Invigorate Orthovita's Biologics Biz
This article was originally published in The Gray Sheet
Executive Summary
Stryker hopes its sales force heft can push Orthovita's line of synthetic orthobiologics into a better growth position while filling important competitive gaps.
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During the second quarter of 2011, 57 medical device companies brought in a total of $1.7 billion in financings. The M&A activity reached $28.8 billion, unusually high due to Johnson & Johnson's $21.7 billion takeover of orthopedic device maker Synthes. VC funding represented $76 million or 43% of the second quarter's in vitro diagnostics/research financing aggregate of $177 million. A hefty $4.1 billion was spent on 11 in vitro diagnostic/research M&A transactions, the largest being Thermo Fisher's $3.5 billion buy of Swedish genetics testing firm Phadia AB.