Subject to customary closing conditions, the transaction is expected to close in the third quarter of 2014.

Small Bone Innovations President and CEO Michael Simpson said: "This transaction is the next step of growth for Small Bone Innovations’ world-class products — especially the STARâ„¢ Total Ankle — and is a perfect fit with Stryker’s product suite and global reach of its world-class distribution system."

In this transaction, Piper Jaffray acted as financial advisor, Herrick, Feinstein acted as lead transaction counsel and Morgan, Lewis & Bockius acted as intellectual property counsel.

Norton Rose Fulbright acted as regulatory counsel and Musculoskeletal Clinical Regulatory Advisers acted as clinical, regulatory and quality systems advisor.