Stryker withdraws from hip resurfacing business
Medical device maker Stryker Corp. said Wednesday its orthopedics division will no longer distribute the Cormet Hip Resurfacing System made by British medical technology company Corin PLC.
Stryker, based in Kalamazoo, Mich., said it decided to withdraw from the global hip resurfacing market due to business factors like changing market opportunities. Corin will resume direct distribution of the system.
Shares of Stryker climbed 81 cents to $59.94 in afternoon trading.