Stryker Corp. (NYSE:SYK) is selling off its bone growth products unit to Japan-based Olympus Corp. (OTC:OCPNY) for $60 million.
The Kalamazoo, Mich.-based company’s OP-1 product family, which are made by Hopkinton, Mass.-based subsidiary Stryker Biotech, includes the OP-1 Implant, OP-1 Putty, Opgenra and Osigraft, for use in orthopedic bone applications. The companies’ sale agreement also includes the transfer of Stryker’s Lebanon, N.H. manufacturing facility, according to the company.