Stryker announced plans to acquire Serf SAS, a French manufacturer of joint replacement hardware.
The company said it had “executed a binding offer” to Serf’s corporate parent, the Lyon-based Menix, which describes itself as a national leader in hip replacements with international orthopedics sales making up about 65% of its revenue.
The financial terms of the deal were not disclosed. In its release, Stryker said it expects the acquisition to close in the first quarter of 2024, pending processes under French law and other regulatory necessities.
Stryker also said the deal would complement its existing businesses in France and Europe, as well as its global joint replacement portfolio.
Serf is known as the inventor of the dual mobility cup for replacement hips. Co-designed in 1975 by one of Serf’s founders, it involves placing nested liners within the joint that can provide an additional range of motion without sacrificing stability.
The company provides foot and knee implants as well. Menix, meanwhile, also markets dental implants and equipment for craniomaxillofacial surgery.