Stryker Corp.’s (NYSE:SYK) orthopedics division cut distribution ties with Corin Group plc (LON:CRG), citing changing market opportunities and changing ownership of Stryker’s metal-on-metal hip device manufacturer.
Stryker began distributing Cirencester, U.K.-based Corin’s Cormet hip resurfacing device in the U.S. after it won FDA approval in 2007.
“Distribution of a hip resurfacing device no longer fits within Stryker’s long-term product strategy,” said Stuart Simpson, VP of global hip reconstruction marketing, in a press release.
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The move comes on the heels of news that Stryker inked two new deals in joint preservation and spine intervention last week.
The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.