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.
The move comes on the heels of news that Stryker inked two new deals in joint preservation and spine intervention last week.