Stryker (NYSE: SYK) has signed a definitive agreement to acquire ZuriMED, a privately held medical device company that developed the FiberLocker System, a soft tissue augmentation technology for rotator cuff repair.

The FiberLocker System is designed to reduce a key clinical failure mode in rotator cuff repair by providing increased biomechanical strength during augmentation procedures. The technology is already commercialized.

The acquisition is intended to expand Stryker's shoulder portfolio across both sports medicine and arthroplasty segments. Rotator cuff augmentation is described as one of the faster-growing areas in sports medicine, according to data cited from Mordor Intelligence.

Andy Pierce, Group President of MedSurg and Neurotechnology at Stryker, said in a statement: "ZuriMED has developed a differentiated technology that addresses an important clinical need within shoulder care. We are excited about the opportunity to add the FiberLocker System to Stryker's portfolio."

The transaction remains subject to customary closing conditions. Stryker and ZuriMED will continue to operate as separate entities until the deal closes. No financial terms were disclosed.