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Stryker concludes OP-1 sale to Olympus

Stryker Corporation has closed the previously proposed sale of its OP-1 product family, including OP-1 Implant, OP-1 Putty, Opgenra and Osigraft, for use in orthopaedic bone applications, to Olympus. The transaction also covers sale of the production facility in Lebanon, New Hampshire, United States.

On 6 December 2010, Stryker entered into a definitive agreement with Olympus Corporation for the sale of its OP-1 product family for $60 million. Stryker intended to redirect a portion of the related R&D spending to other internal projects.

Stryker achieved worldwide sales of Orthopaedic Implants worth $1,166m for the fourth quarter representing increase of 4.5% and $4,308m for the year ended 31 December 2010, representing increase of 4.6%.

Orthopaedic Implant sales increased 4.3% in the fourth quarter and 3.3% for the year ended 31 December 2010 following higher sales of hips, knees and trauma implant systems.

Stryker is a medical technology company that provides orthopaedic implants as well as medical and surgical equipment.