Stryker buys VC-backed medical device company Arrinex

PRESS RELEASE

Kalamazoo, Michigan, Feb. 25, 2019 (GLOBE NEWSWIRE) — Stryker (NYSE:SYK) announced today it has completed the acquisition of Arrinex, Inc., a medical device company headquartered in Menlo Park, California, that has developed ClariFix®, a novel cryoablation technology for the treatment of chronic rhinitis.

This condition, which affects over 24 million people in the U.S. each year, may cause runny nose, congestion, sneezing and nasal itching. Arrinex, which was founded in 2013, began commercializing ClariFix in late 2017 in the U.S. ClariFix further expands Stryker’s Ear, Nose and Throat (ENT) portfolio with a unique product to address a large, underpenetrated segment of the ENT market where Stryker does not currently compete.

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source pe hub network