Stryker completes acquisition of NICO Corporation, expanding minimally invasive solutions for brain tumor removal and stroke care

Rhea-AI Summary

Stryker (NYSE: SYK) has completed the acquisition of NICO , a privately held company specializing in minimally invasive surgery for tumor and intracerebral hemorrhage (ICH) procedures. This acquisition strengthens Stryker's position in neurotechnology, particularly in tumor and stroke care. ICH, the deadliest form of stroke, affects over 3.4 million people annually worldwide, with a 30-day mortality rate of 40-50%.

NICO's BrainPath® and Myriad® products offer improved functional outcomes for ICH treatment compared to standard medical management. Andy Pierce, group president of MedSurg and Neurotechnology at Stryker, stated that this strategic addition will enable the company to deliver differentiated, minimally invasive approaches to drive meaningful outcomes and improve patients' lives globally.

Positive

• Acquisition expands Stryker's portfolio in tumor resection and ICH treatment
• NICO's products offer improved functional outcomes for ICH treatment
• Strengthens Stryker's position in the growing neurotechnology market
• Addresses a significant medical need with 3.4 million ICH cases annually

Negative

• None.

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PORTAGE, Mich., USA, Sept. 20, 2024 /PRNewswire/ -- Stryker (NYSE: SYK), a global leader in medical technologies, announced today that it has completed the acquisition of NICO Corporation, a privately held company providing a systematic approach to minimally invasive surgery for tumor and intracerebral hemorrhage (ICH) procedures. This acquisition further strengthens Stryker's commitment to neurotechnology through tumor and stroke care.

ICH, or bleeding in the brain caused by a ruptured blood vessel, is the deadliest form of stroke, affecting over 3.4 million people annually around the world, with rising rates due to an aging population.^1,2 ICH has high morbidity and a 30-day mortality rate ranging from 40-50%.³ NICO's BrainPath^® and Myriad^® products enable a treatment option for ICH with improved functional outcomes compared to guideline-based medical management alone, the current standard of care. ^4,5

"The acquisition of NICO Corporation expands Stryker's portfolio of solutions for tumor resection and the treatment of intracerebral hemorrhage, the deadliest form of stroke," said Andy Pierce, group president, MedSurg and Neurotechnology, Stryker. "As a global leader in neurosurgical access and removal tools, this strategic addition enables us to deliver differentiated, minimally invasive approaches that will drive meaningful outcomes and improve the lives of patients worldwide."

About Stryker
Stryker is a global leader in medical technologies and, together with its customers, is driven to make healthcare better. The company offers innovative products and services in MedSurg, Neurotechnology, Orthopaedics and Spine that help improve patient and healthcare outcomes. Alongside its customers around the world, Stryker impacts more than 150 million patients annually. More information is available at www.stryker.com.

Media contact
Beth Sizemore
Stryker
Senior Director, Communications
beth.sizemore@stryker.com

References
¹ Sun T, Yuan Y, Wu K, et al. (2023) Trends and patterns in the global burden of intracerebral hemorrhage: a comprehensive analysis from 1990 to 2019. Frontiers in Neurology. 14:1241158.

² Katan M, Luft A. Global Burden of Stroke. Semin Neurol. 2018 Apr;38(2):208-211. doi: 10.1055/s-0038-1649503. Epub 2018 May 23. PMID: 29791947.

³ Woo, D, Comeau ME, Venema SU, et al. (2022). Risk Factors Associated With Mortality and Neurologic Disability After Intracerebral Hemorrhage in a Racially and Ethnically Diverse Cohort. JAMA Netw Open. 5(3):e221103

⁴ Pradilla G., Ratcliff, JJ, , Hall, AJ, et al.   (2024). Trial of Early Minimally Invasive Removal of Intracerebral Hemorrhage. New England Journal of Medicine. 390(14), 1277-1289.

⁵ Greenberg, SM, Ziai WC, Cordonnier C., et al.  (2022) 2022 Guideline for the Management of Patients with Spontaneous Intracerebral Hemorrhage: A Guideline from the American Heart Association/American Stroke Association. Stroke.  53(7), e282-e361.

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SOURCE Stryker

FAQ

What company did Stryker (SYK) acquire on September 20, 2024?

Stryker (SYK) acquired NICO , a privately held company specializing in minimally invasive surgery for tumor and intracerebral hemorrhage (ICH) procedures.

How does the NICO acquisition benefit Stryker's (SYK) neurotechnology portfolio?

The acquisition strengthens Stryker's neurotechnology portfolio by expanding its solutions for tumor resection and the treatment of intracerebral hemorrhage, the deadliest form of stroke.

What are the key products from NICO that Stryker (SYK) has acquired?

Stryker has acquired NICO's BrainPath® and Myriad® products, which enable improved functional outcomes for ICH treatment compared to standard medical management.

How prevalent is intracerebral hemorrhage (ICH) according to Stryker's (SYK) press release?

According to the press release, intracerebral hemorrhage (ICH) affects over 3.4 million people annually worldwide, with a 30-day mortality rate ranging from 40-50%.