TechCXO Client HyperBranch Medical Acquired by Stryker Corp.
TechCXO client HyperBranch Medical Technology, Inc., a Durham, N.C.-based medical device company, that develops and markets products primarily for the traumatic or surgically induced wound market, was acquired by Stryker Corporation, for $220M.
HyperBranch offers Adherus AutoSpray Dural Sealant, a synthetic, absorbable, two-component dural sealant indicated for use in patients who are thirteen years of age and older, as an adjunct to standard methods of dural repair, such as sutures, to provide watertight closure during cranial procedures. It sells its products through a network of distributors internationally.
HyperBranch won pre-market approval from the FDA for the Adherus Autospray sealant in March 2015 and is one of two such sealants allowed on the U.S. market. The company was founded in 2003. As of October 1, 2018, HyperBranch Medical Technology, Inc. operates as a subsidiary of Stryker Corporation.
TechCXO partner Lori Parro has been serving HyperBranch as CFO and TechCXO’s Cheryl Hiser has served as Controller. TechCXO assisted in all aspects of finance and accounting functions.