Stryker Acquires NICO Corporation in Its Seventh Deal of 2024, Expanding Neurosurgical Portfolio

Sep 23, 2024 18:32 CST Updated 18:32

Stryker

Medical Device R&D, Production, and Sales Company

Nico

Neurosurgical Instrument Developer

On September 20, 2024, Stryker, a global leader in medical technology,Announcement of the Completion of the Acquisition of NICO Corporation, the latter is aA Company Specializing in Minimally Invasive Surgery for Cerebral Stroke, providing advanced neurosurgical equipment and solutions. The financial terms of the acquisition were not disclosed.

This acquisition represents a significant strategic step for both Stryker and NICO Corporation. Previously, on September 18, Stryker had just completed its acquisition of Care.ai.

# Core Product Overview

Myriad SPECTRA System

Myriad SPECTRA is the third-generation Myriad system developed by NICO Corporation, representing a significant advancement in neurosurgical technology.

The system combines handheld directional light technology with non-ablative, non-thermal resection technology to provide surgeons with a new surgical tool that enhances the safety and efficiency of procedures.

Product Features:

Handheld Directed Light:This technology allows surgeons to precisely control the light source, achieving precise illumination of the surgical field, thereby enhancing visibility and precision during surgery.
Non-ablative, non-thermal ablation:Use a non-ablative and non-thermal method to resect brain tumors or remove blood clots, which helps reduce damage to surrounding healthy tissues and lowers surgical risks.
Fluorescence-Guided Surgical Resection:The system is capable of switching between white light and blue light excitation, and fluorescence guidance technology canAssists physicians in more clearly identifying tumor boundaries and vascular structures, thereby enabling more complete resection.
Adaptable to Various Surgical Needs:The system is applicable to various types of neurosurgical procedures, including but not limited to brain tumor resection and evacuation of intracerebral hemorrhage.

This product has currently received approval from the U.S. FDA,and registered the application for sale and clinical use with the UK Medicines and Healthcare products Regulatory Agency (MHRA).

BrainPath System

The BrainPath system is an innovative device launched by NICO Corporation, specifically designed for Minimally Invasive Parafascicular Surgery (MIPS). This surgical approach utilizes the brain’s natural corridors to reach the target area, thereby minimizing damage to brain tissue.

BrainPath series products offer devices in various lengths and diameters, such as13.5mm and 11mm Diameters, to accommodate diverse surgical requirements and patient anatomical structures.A 13.5 mm BrainPath creates an opening approximately the size of a dime.

The BrainPath system enables surgeons to directly visualize the lesion area through the brain’s natural corridors, facilitating more precise localization and resection of lesions. The device features a atraumatic tip designed to minimize tissue disruption during advancement to the surgical site.

The BrainPath system, as a comprehensive solution, provides effective surgical approaches for the treatment of various neurosurgical diseases, includingPrimary and Secondary Tumors, Vascular Abnormalities and Malformations (Arteriovenous Malformations (AVM) and Cavernous Hemangiomas, etc.), intraventricular tumors,Brain Cystetc.

# 2024 Stryker Acquisition Overview

On March 21, 2024, Stryker announced the completion of its acquisition ofFrench Joint Consumables Manufacturer SERF SASthe acquisition.SERF SASis a French company that develops, manufactures, and sells joint replacement products. Currently, the company’s product portfolio is categorized into applications forHip, Knee and Extremitiesimplants and surgical planning software.

On April 30, 2024, Stryker announced the completion of its acquisition of mfPHD.mfPHD is the leader in modular stainless steel wall systems for hospitals and ambulatory surgery centers, offering products including Fortress, a modular wall system that reduces construction time, allows for earlier use of operating rooms, and accelerates room repair or reconfiguration in the event of disruptive incidents.

On July 15, 2024, Stryker announced the completion of its acquisition of Artelon, a developer of soft tissue fixation solutions. This acquisition will strengthen Stryker’s product portfolio in soft tissue fixation for ligament and tendon reconstruction, complementing and expanding the existing product offerings for Stryker’s foot and ankle and sports medicine specialist customers.

On July 31, 2024, Stryker announced the completion of its acquisition of Molli Surgical. Molli Surgical is a private company specializing in the development of wireless soft tissue localization technology for breast-conserving surgery. This acquisition will further strengthen Stryker’s portfolio of surgical solutions for breast cancer care.

On August 12, 2024, Stryker announced the completion of an acquisition.AI-Assisted Virtual Care Company Care.aifinal agreement, this acquisition will strengthen Stryker’s healthcare IT products and wireless connected medical device portfolio.The complementary technologies brought by the acquisition of Care.ai can be seamlessly integrated with Stryker's existing platforms, aligning with its vision for the future of healthcare.

On August 22, 2024, Stryker announced a definitive agreement to acquire Vertos Medical, a developer of treatments for chronic lower back pain. Vertos Medical developed a product namedMILD^®Surgeryminimally invasive surgical solutions for the treatment of low back pain caused by lumbar spinal stenosis (LSS).

During the earnings conference call on July 30, Stryker CEO Kevin Lobo revealed that the company plans to carry out multiple mergers and acquisitions in the second half of this year.Kevin Lobo It was pointed out that most acquisitions are small-scale M&A transactions, which, despite their modest size, play a significant role in complementing the company’s business operations.

He also stated that Stryker plans to leverage its backlog of orders to support its M&A strategy, especially given the currently strong demand for endoscopes and medical products, which enables the company to continue advancing this strategy.

# About NICO Corporation

NICO Corporation is a medical device company that develops and manufactures devices and tools for neurosurgical procedures, with a focus on the treatment of tumors and intracerebral hemorrhage (ICH).

Minimally Invasive Parafascicular Surgery (MIPS) is a technology developed by NICO that enables surgeons to operate through the brain’s natural corridors, thereby minimizing damage to surrounding healthy brain tissue. The MIPS technique can be used not only for the treatment of intracerebral hemorrhage but also for brain tumors and other neurological disorders.

Fundraising History:

According to Crunchbase data, since its establishment in 2007, it has undergone eight rounds of financing, with the most recent round occurring in 2022. The total amount raised across these eight rounds is$68.1 million。

January 2008,NICO Corporation Completes $1.7 Million Series A Financing

In January 2009, completed a Series B financing round of $1.7 million.

In July 2009, the company completed a $10 million financing round, with investments from RC Capital and others.

In July 2012, completed a $6.6 million venture capital financing.

In February 2016, completed a $15 million financing round.

In June 2016, completed an $8 million financing round.

In November 2018, completed a $12.5 million financing round

In October 2022, it completed a $12.6 million financing round that was oversubscribed.

# List of Award-Winning Medical Device Companies

2024 Global Surgical Robotics Industry Awards

2024 Global Medical Technology Innovation Award

Global MedTech Rising Star Awards 2024

Global Innovative Medical Device Award 2024

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Medtronic｜Johnson & Johnson MedTech｜Abbott｜Siemens Healthineers｜Philips Medical｜Stryker｜GE Healthcare｜Boston Scientific｜Essilor｜Alcon｜Carl Zeiss Meditec

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