Stryker Corp. completed its $220 million all-cash purchase of HyperBranch Medical Technology Inc. from H.I.G. BioHealth Partners, an affiliate of Miami-based private equity firm H.I.G. Capital LLC.
Durham, N.C.-based HyperBranch Medical Technology is a privately held medical device company that develops Adherus AutoSpray Dural Sealant, one of only two dural sealants approved by the U.S. Food and Drug Administration for closing wounds during spinal surgery.
Cooley LLP represented HyperBranch in the deal.
Prior to the HyperBranch takeover, Kalamazoo, Mich.-based Stryker — a Fortune 500 healthcare equipment company — acquired surgical device maker Invuity Inc. for about $190 million.