Michigan-based medical device giant Stryker has closed a deal to acquire the Nico Corporation in a bid to expand its own neurotechnology and stroke care portfolio.
Stryker has confirmed that they have acquired the Indianapolis-based company, including the company’s systems designed to manage surgeries to treat intracerebral haemorrhages (ICH), dubbed BrainPath and Myriad.
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Nico describes Myriad as an automated, multi-functional tool for precise resection, suction, clot evacuation and tumour removal in neurosurgery, spinal surgery, ENT and otolaryngology. The system was previously granted market clearance by the US Food and Drug Administration (FDA) back in 2017.
BrainPath is a tool that assists surgeons by creating direct visualisation of a tumour or lesion through the natural folds of the brain. It creates a corridor to the tumour or lesion instead of cutting through brain tissue to reach the affected tissue.
Since then, research by GlobalData has found that the global market for minimally invasive neurosurgery has risen from an estimated $109m, up to $155m by the end of 2024. The market is expected to continue its rise, reaching an estimated value of $219m by the end of 2030.
Andy Pierce, group president at Stryker, said: “The acquisition of NICO Corporation expands Stryker’s portfolio of solutions for tumour resection and the treatment of intracerebral haemorrhage, the deadliest form of stroke.
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By GlobalData“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.”
Research published in Frontiers in Neurology found that ICH is the deadliest form of stroke, affecting over 3.4 million people annually around the world. Additionally, ICH has high morbidity and a 30-day mortality rate ranging from 40-50%. Nico claims that its Myriad and BrainPath devices can produce more functional outcomes when compared to guideline-based medical management alone.
Elsewhere in the field of medtech acquisitions, Molex has entered an agreement to acquire UK-based inhalation drug device design and formulation company Vectura Group. Meanwhile, Swedish conglomerate Asker Healthcare has further expanded its presence across the European device market through the acquisition of UK-based medtech repair firm Hugo Technology.
