Stryker reached an agreement with family investment firm Viscogliosi Brothers to sell its U.S. spinal implants business for an undisclosed amount, the companies announced Tuesday.
The newly formed company will be called VB Spine, specializing in neuro-musculoskeletal products. The agreement includes a binding offer to acquire Stryker’s spinal products in France.
Stryker CEO Kevin Lobo told investors on Tuesday that the segment “has faced challenges in achieving our performance expectations.” Lobo added the sales will put the business in the hands of new owners with extensive experience in the spine market and allow Stryker to better align its resources.
Stryker reported goodwill and other impairments of $818 million related to the spine business in the fourth quarter. Stryker’s spinal implants business brought in $707 million in sales in 2024, and Lobo clarified that the “entire $700 million is expected to be divested to [VB Spine].”
Lobo emphasized that Stryker is still interested in interventional spine products, including its Q Guidance System for surgical planning and navigation, and its Mako Spine robot. Stryker received Food and Drug Administration clearance for Mako Spine in August and plans a full U.S. commercial launch in the second half of the year, said Andy Pierce, group president of medical-surgical and neurotechnology.
VB Spine will have exclusive access to Mako Spine and Copilot for use with VB Spine’s implants in spine procedures. Copilot is a feature to help with screw placement during surgery by stopping automatically when a planned depth is reached.
Separately, Stryker plans to sell its spine implants business in other international markets.
New CFO
CFO Glenn Boehnlein, who has worked at Stryker for 22 years, will retire. Preston Wells, who is currently CFO of Stryker’s orthopedics group, will become the new CFO of the company starting on April 1.
“Glenn is a growth champion who invested in developing talent, including Preston Wells, who has been promoted to Chief Financial Officer,” Lobo said in a statement.
Wells has worked at Stryker since 2016 in leadership roles including vice president of investor relations and vice president of financial planning analysis, according to his LinkedIn page. Before that, Wells was CFO of LED lighting firm Dialight and held senior finance roles at Johnson & Johnson.
Inari update
Stryker also used Tuesday’s call to provide an update on its $4.9 billion planned purchase of Inari Medical, which makes mechanical thrombectomy systems to treat vascular disease. The companies expect the deal to close in late February, Boehnlein said. Inari is expected to bring $590 million in constant currency sales in the 10 months ending in December 2025.
Pierce said the acquisition would make Stryker a leader in the fast-growing market for mechanical thrombectomy treatment for venous thromboembolism (VTE), a condition where blood clots form in the veins. Inari currently sells its devices in more than 30 markets, and Stryker expects the acquisition would help Inari grow its international presence.
Stryker sees mechanical thrombectomy for VTE as a $15 billion total addressable market globally, with the U.S. accounting for nearly $6 billion of that opportunity, Pierce said.
