OrthoSpace is the Israeli company founded in 2009. OrthoSpace develops and extends orthopedic implants on the basis of the biodegradable balloon systems. As investors of OrthoSpace such companies as Johnson&Johnson and Smith & Nephew acted in due time. The headquarters of OrthoSpace is located in Caesarea, Israel.
2019: Stryker purchased OrthoSpace for $220 million
On March 14, 2019 the producer of the medical equipment Stryker Corporation announced acquisition of OrthoSpace for $220 million. The main product of OrthoSpace company represents an implant for a shoulder joint of InSpace. It is intended for inoperable patients with defeat of a rotary cup of a shoulder joint to whom other methods of treatment are contraindicated.
A balloon system for implantation of InSpace reduces pain and increases the range of movements, without affecting at the same time structure of bones and joints. The cylinder creates a layer between two bones which friction causes painful feelings and by that improves quality of life and allows an organism to be recovered quicker, than when carrying out surgical interventions. Developers also pay special attention on simplicity of implantation of the InSpace system - minimum invasive procedure is carried out on an outpatient basis and reduces to at least undesirable effects. For the beginning of spring of 2019 the InSpace system is used 20,000 patients and is available in the markets to Europe and some countries of Latin America and Asia.
Acquisition of OrthoSpace supplements the existing portfolio of orthopedic means of Stryker and will be approved with plans of the company which intends to invest means in sports medicine. Stryker paid for OrthoSpace $110 cash in advance and agreed to pay $110 million more at successful achievement of the planned purposes, however explained that the transaction will not affect the profit of the company in 2019.