MAHWAH, N.J., USA, Dec. 18,
2023 /PRNewswire/ -- Stryker (NYSE: SYK),
one of the world's leading medical technology companies,
announced today that it has executed
a binding offer to Menix to acquire SERF
SAS, a France-based joint
replacement company.
With a legacy of over 50 years, SERF SAS is recognized by
healthcare professionals worldwide for its
innovations in hip implants, including
the invention of the
original Dual Mobility Cup. This acquisition
would complement Stryker's existing presence in France and across Europe as well as its global joint replacement
portfolio, allowing Stryker to serve a wider range of patients.
In accordance with French law, the execution of any binding
agreement would occur after the works council
information-consultation process has been completed. The proposed
acquisition is expected to close during the first quarter of 2024,
subject to customary closing conditions, including regulatory
approvals.
Forward-looking statements
This press release contains information that includes or is
based on forward-looking statements within the meaning of the
federal securities law that are subject to various risks and
uncertainties that could cause our actual results to differ
materially from those expressed or implied in such statements. Such
factors include, but are not limited to: weakening of economic
conditions, or the anticipation thereof, that could adversely
affect the level of demand for our products; pricing pressures
generally, including cost-containment measures that could adversely
affect the price of or demand for our products; changes in foreign
currency exchange markets; legislative and regulatory actions;
unanticipated issues arising in connection with clinical studies
and otherwise that affect United States Food and Drug
Administration approval of new products; inflationary pressures;
increased interest rates; supply chain disruptions; changes in
reimbursement levels from third-party payors; a significant
increase in product liability claims; the ultimate total cost with
respect to recall-related matters; the impact of investigative and
legal proceedings and compliance risks; resolution of tax audits;
changes in tax laws and regulations; the impact of federal
legislation to reform the United
States healthcare system; costs to comply with medical
device regulations; changes in financial markets; changes in our
credit ratings; changes in the competitive environment; our ability
to integrate and realize the anticipated benefits of acquisitions
in full or at all or within the expected timeframes; our ability to
realize anticipated cost savings; potential negative impacts
resulting from environmental, social and governance (ESG) and
sustainability related matters; the impact on our operations and
financial results of any public health emergency and any related
policies and actions by governments or other third parties; and
breaches or failures of our or our vendors' information technology
systems or products, including by cyber-attack, data leakage,
unauthorized access or theft. Additional information concerning
these and other factors is contained in our filings with the
United States Securities and Exchange Commission, including our
Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We
disclaim any intention or obligation to publicly update or revise
any forward-looking statement to reflect any change in our
expectations or in events, conditions or circumstances on which
those expectations may be based, or that affect the likelihood that
actual results will differ from those contained in the
forward-looking statements.
About Stryker
Stryker is one of the world's leading medical technology
companies and, together with its customers, is driven to make
healthcare better. The company offers innovative products and
services in Medical and Surgical, Neurotechnology, Orthopaedics and
Spine that help improve patient and healthcare outcomes.
Alongside its customers around
the world, Stryker
impacts more than 130 million
patients annually. More information is available at
www.stryker.com.
About Menix
Menix comprises cutting-edge technological industries in the orthopaedic (primarily hip and
knee) and dental sectors, as well as 3D digital solutions. In the
field of orthopaedics, Menix enjoys a leadership position on the
dual mobility and first intention stem markets in France.
About SERF SAS
SERF SAS is a French company
that develops, manufactures, and sells a range of large joint
replacement products on an international basis. Since its founding,
SERF SAS has developed numerous innovative concepts, including the
invention of the original Dual Mobility Cup. SERF SAS's main office
is based in Décines-Charpieu, France.
Media contact
Stryker, Joint Replacement Niamh Grano
Sr. Communications Manager niamh.grano@stryker.com
+1 201.831.5589
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SOURCE Stryker