Stryker buys Arrinex to expand ENT portfolio
Stryker announced Monday it acquired Arrinex to add a treatment for chronic rhinitis to its growing ear, nose and throat (ENT) division.
Arrinex brought the cryoablation technology, ClariFix, to market in 2017 to give patients with chronic rhinitis an alternative to pharmacological interventions and invasive surgery.
The deal comes one year after Stryker acquired Entellus Medical in a $697 million deal that enabled it to create a dedicated ENT sales force.
The past 12 months have been a big period for Stryker's ENT unit. Going into 2018, the unit was too small to support its own dedicated sales force, forcing it to rely instead on the broader neurotechnology infrastructure. That changed one year ago when Stryker closed its acquisition of Entellus.
Buying Entellus gave Stryker a portfolio of minimally-invasive treatments for ENT conditions, such as the XprESS balloon dilation system and Latera absorbable nasal implant, to complement its existing instrument business. The expansion of the portfolio made the ENT business large enough to support a dedicated sales force.
That done, Stryker is working to give the sales force more products to sell. Stryker's interest in ENT devices led it to Arrinex, a privately-held medtech company that received 510(k) clearance for ClariFix in the treatment of chronic rhinitis in 2017.
FDA originally cleared ClariFix in 2016 for use in "the destruction of unwanted tissue during surgical procedures." The following year, Arrinex presented data from a clinical study and the literature that led FDA to add "including in adults with chronic rhinitis" to the indication in which ClariFix is cleared for use.
Arrinex has aimed the device squarely at the chronic rhinitis market since it began commercializing it late in 2017. The device uses cryotherapy to ablate targeted tissue, to provide relief to people suffering from runny nose, nasal congestion and post nasal drip as a result of non-allergic triggers.
Chronic rhinitis is outside of the ENT segments covered by Stryker's existing portfolio and as such the acquisition stands to provide an additional revenue stream without cannibalizing existing products. Neither party disclosed the size of the deal.
- Stryker Stryker acquires Arrinex