Stanmore Implants is acquired by Stryker Corporation, providing an exit to Imperial Innovations.

Imperial Innovations-backed SIW Holdings, the holding company of Stanmore Implants, has been acquired by medical company Stryker Corporation for £35.6m ($51.5m), providing an exit to Imperial Innovations.

The investment firm of Imperial College London, which invests in companies based in the region known as the Golden Triangle that includes Oxford, Cambridge and London, held a 16.4% stake in Stanmore. The firm had invested £4m in 2011.

Stanmore Implants develops replacement bones and joints. The company focuses on orthopaedic oncology and can trace its foundation back 60 years to the Institute of Orthopaedics at the Royal National Orthopaedic Hospital.

Imperial Innovation will share in the net proceeds of the sale that amount to approximately £4.8m. It expects a net fair gain of approximately £1.4m.