Medical technology company Stryker has agreed to acquire all issued and outstanding shares of Artelon, a privately held developer of soft tissue fixation products.

The strategic move aims to bolster Stryker's offerings in the soft tissue fixation segment.

Stryker expects Artelon's technologies to complement its existing range, offering more than 60,000 implantations worldwide.

The acquisition also complies with Stryker's commitment to providing advanced solutions for ligament and tendon reconstruction.

The integration of Artelon's synthetic technology is expected to enhance biological and mechanical ligament and tendon reconstruction, supporting patient healing and recovery.

Stryker trauma and extremities division president Tim Lanier said: “Artelon’s proven product portfolio and differentiated offerings will enhance our ability to innovate and serve our customers.

“The addition of Artelon’s products to our already robust foot and ankle and sports medicine product portfolios will fuel our goal of establishing comprehensive offerings for customers in these segments.

“We share a common dedication to integrity, quality, and advancing the knowledge of healthcare providers to achieve the best clinical outcomes and rebuild patients’ lives.”

Subject to customary closing conditions, both companies will maintain their separate operations until the deal's completion.

Furthermore, Stryker expects the deal to help position itself more competitively in the foot and ankle and sports medicine segment with a biomaterial technology, which supports soft tissue healing for patients.

In May 2023, Stryker completed the acquisition of US-based commercial-stage medical device company Cerus Endovascular.

Cerus is involved in the design, development, manufacture and supply of interventional neurovascular devices and delivery systems for the treatment of intracranial aneurysms.

Neurovascular devices are used in the treatment of acute, life-threatening neurological conditions.