Navigation Links
STRYKER Signs Definitive Agreement to Acquire CONCENTRIC MEDICAL, Inc.
Date:8/31/2011

MOUNTAIN VIEW, Calif., Aug. 31, 2011 /PRNewswire/ -- Concentric Medical, Inc., a global leader in acute ischemic stroke intervention, today announced that Stryker Corporation (NYSE: SYK) has signed a definitive agreement to acquire Concentric Medical for $135 million in an all-cash transaction. The acquisition, pending customary regulatory approvals, is expected to close early in the fourth quarter of 2011.

The acquisition of Concentric Medical provides Stryker with immediate entry into the fastest growing and most innovative segment of the interventional neurovascular space. Ischemic stroke represents the vast majority of all strokes, and this strategic acquisition offers Stryker immediate access into the rapidly expanding Acute Ischemic Stroke segment with a proven technology leader.

Concentric Medical manufactures and markets minimally invasive devices that are endovascularly delivered to the brain to remove blood clots that cause ischemic stroke. Concentric was a pioneer in the development of acute ischemic stroke treatments with the launch of the first Merci® Retriever in 2004. Most recently, the company successfully launched the Trevo™ Retriever in Europe in 2010. The Trevo Retriever is the first device utilizing Stentriever™ technology, a novel approach to retrieving clots from the neurovasculature. The Trevo Retriever is currently being evaluated in the TREVO 2 Trial, a pivotal clinical trial investigating the safety and efficacy of the Trevo Retriever.

“We believe Stryker is the ideal strategic partner for Concentric and combining Concentric with Stryker’s Neurovascular division will provide opportunities to accelerate the development of technology and clinical evidence and will allow the commercial expansion of Concentric’s ischemic stroke therapy globally. Our team is excited to be joining the Stryker organization,” said Maria Sainz, President and CEO of Concentric Medical.

J.P. Morgan Securities LLC acted as exclusive financial advisor to Concentric Medical on the transaction.

About Concentric Medical

Concentric Medical is located in Mountain View, California and is a global leader in the development of endovascular devices for revascularizing stroke patients. Concentric Medical’s devices are available in over 500 leading stroke centers around the world, and have been the subject of several clinical studies.

For more information about Concentric Medical, please visit www.concentric-medical.com.

About Acute Ischemic Stroke

Stroke is a leading cause of death and serious long-term disability in the developed world. Ischemic stroke represents over 85% of strokes and occurs when a blockage or clot develops in one of the arteries supplying blood to the brain. CE mark for the Merci Retriever was first obtained in 2002.  In 2004, the FDA cleared Concentric Medical's Merci Retriever® for use in patients who are ineligible for IV-tPA or who fail to respond to IV-tPA therapy.

Media Contact:
+1 650-938-2100
strokeinfo@concentric-medical.com


'/>"/>
SOURCE Concentric Medical
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Stryker Orthopaedics Enters into Agreement with OrthoSensor for Intelligent Surgical Platform
2. Landmark Stryker Trial Establishes Coiling as Safe and Effective Treatment for Ruptured and Unruptured Aneurysms
3. Stryker Ends Distribution Agreement With Corin PLC
4. Stryker Announces Exclusive Collaboration With RegenLab
5. Stryker Launches VersiTomic G-Lok™
6. Stryker Orthopaedics Launches Its First iPad™ Apps for Surgeons, Available Through Apples App Store(SM)
7. Stryker Features Tissue-Preservation Hip Arthroscopy Platform, Sponsors Surgeon Education Events at the AAOS Annual Meeting
8. Fred Funk Becomes Spokesperson for Stryker Orthopaedics
9. Stryker Receives FDA 510(k) Clearance to Market Modular Dual Mobility Acetabular (Hip) System
10. Stryker Declares a $0.18 Per Share Quarterly Dividend
11. Stryker Completes Sale of OP-1 for use in Orthopaedic Bone Applications to Olympus
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/9/2016)... 2016  The Parenteral Drug Association, Inc. (PDA), ... manufacturing sterile drug products, today announced the publication ... – With link to Comparison Spreadsheet. The ... U.S. FDA, the EU, the Pharmaceutical Inspection Convention/Scheme ... --> --> PDA,s Global Sterile ...
(Date:2/8/2016)... Feb.8, 2016 Cardiovascular Surgery Devices - ... GlobalData,s Medical Devices sector report, "Cardiovascular Surgery Devices ... overview of Cardiovascular Surgery Devices currently in pipeline ... The report provides comprehensive information on the ... at various stages of development. The report reviews ...
(Date:2/8/2016)... FAIRFIELD, N.J. , Feb. 8, 2016  Otsuka ... today announced that they have entered into a licensing ... OPA-15406 in the U.S. and Puerto Rico ... is a topical, non-steroidal phosphodiesterase IV (PDE-4) inhibitor, a ... --> --> In a Phase II ...
Breaking Medicine Technology:
(Date:2/8/2016)... ... February 08, 2016 , ... Stephanie Hebert Insurance ... beginning of a new charity campaign. As part of their ongoing community involvement ... In the belief that children deserve a voice, and in the spirit of ...
(Date:2/8/2016)... ... February 08, 2016 , ... Tingley ... into Canada to provide its range of unique and advantaged protective solutions ... City that will provide bilingual customer service and marketing support. A new distribution ...
(Date:2/8/2016)... ... February 08, 2016 , ... ... announced today that nominations will be accepted February 8, 2016 through May ... , Awards include the Information Security Executive® of the Year, which recognizes ...
(Date:2/8/2016)... ... February 08, 2016 , ... ... lower incidence rate of type 2 diabetes in the GrassrootsHealth cohort with substantially ... to make a change in public health,” states Carole Baggerly, Director of GrassrootsHealth, ...
(Date:2/8/2016)... ... February 08, 2016 , ... The schedule is now online ... AutismOne 2016 Conference, which is being held May 25-29 at the Loews Chicago O’Hare ... helpful interventions and causes of chronic illness in children. , Very recent articles have ...
Breaking Medicine News(10 mins):