Stryker (SYK) to Acquire Instratek

September 14, 2016 8:16 AM EDT

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Stryker (NYSE: SYK) announced a definitive agreement to acquire the assets of Restore Surgical LLC, d/b/a Instratek.

Founded in 1991, Instratek is a privately held business headquartered in Houston, Texas. Instratek offers a portfolio of staple and hammertoe implants and minimally invasive soft tissue recession instrumentation for foot, ankle and upper extremity procedures.

"This acquisition supports our commitment to growth in extremities with products that complement our existing portfolio, strengthen our leadership in the forefoot segment and provide immediate access into minimally invasive soft tissue recession procedures," said David Floyd, Group President, Orthopaedics.

The transaction is expected to close in the fourth quarter of 2016 and is subject to customary closing conditions.

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