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OrthoSpace has recently announced that they have been acquired by Stryker in an all-cash transaction, including an up-front payment of $110 million with future milestone payments up to an additional $110 million. OrthoSpace, founded in 2009, provides the innovative product InSpace for the treatment of massive irreparable rotator cuff tears. The product is currently undergoing clinical study in the United States and is thus not yet approved for use.
“With 20,000 treated patients world-wide, InSpace addresses severe rotator cuff tears for patients who have few other options. We are so pleased to be joining Stryker as we start this next phase of our growth in bringing InSpace to patients in need in additional countries, and I am thankful for the contributions of the OrthoSpace team and shareholders in getting us to this point,” said Itay Barnea, CEO of OrthoSpace.
InSpace is a sub-acromial spacer designed to recalibrate the shoulder’s natural biomechanics with biodegradable technology. It is described as a simple and minimally invasive solution, and multiple peer-reviewed publications have documented its ability to improve patient pain and function.
Orthopedic soft tissue market research published by iData Research shows that the rotator cuff repair market is currently the largest segment in the entire orthopedic soft tissue repair market, representing around a quarter of the total market value. The segment is expected to exhibit moderate growth throughout the forecast period, with the categories for metal and PLA resorbable sutures decreasing significantly as new options like PEEK CF anchors and all-suture anchors take the spotlight.
“We are proud of our partnership with the OrthoSpace team over the past four years,” said Ariella Golomb, MD, Managing Director at HealthpointCapital, and an OrthoSpace Board Member. “We look forward to watching the Company achieve its full potential as a Stryker business.”
For Further Information
More on the orthopedic soft tissue repair market in the U.S. can be found in a series of reports published by iData Research entitled the U.S Market Report Suite for Orthopedic Soft Tissue Repair and Sports Medicine.
