Stryker Corporation‘s (NYSE: SYK) recently announced acquisition of OrthoSpace, Ltd., an Israeli based orthopedic company, for $110 million (with another $110 million in milestones), makes it tough to ignore 2019’s biggest trend in the medical device sector. Orthopedic companies, so far, have taken up nearly 40% of the medical device transactions this year.

In the deal, Stryker gains OrthoSpace’s InSpace platform, a biodegradable sub-acromial spacer designed to realign the natural biomechanics of the shoulder. It expects the InSpace product will bolster its sports medicine portfolio in particular. The product has been used with 20,000 patients across 30 countries. However, it is currently under clinical study in the U.S.

A few days before Stryker announced its acquisition, Smith & Nephew plc (NYSE: SNN) bought Osiris Therapeutics, Inc. for $660.5 million, a 37% premium to Orisis’ 90-day volume-weighted average stock price. And at a premium it came: Smith & Nephew paid 130x EBITDA for the target. Osiris Therapeutics researches, develops, manufactures and commercializes regenerative medicine products in orthopedics, sports medicine and wound care.

However, it’s not only medical device companies making these purchases. Nordic Capital Fund IX, a leading European private equity investor, purchased Michigan-based Orchid Orthopedic Solutions from Altor Fund III. Orchid designs and manufactures implants for the global orthopedic market. It offers span hip, knee, trauma, extremity, and spinal implant products, as well as single-use and multi-use complex instruments, for surgical procedures. Orchid has 12 manufacturing sites in the U.S., UK, Switzerland and China. Altor Fund will retain a significant minority holding in the company.

Another deal we should highlight is Corin Group’s purchase of OMNI Orthopaedics Inc., which owns the proprietary robotic platform OMNIBotics that allows surgeons to conduct patient-specific total knee surgery. Terms were not disclosed. Corin will combine its Optimised Positioning System for the hip and the OMNIBotics platform for the knee to address functional patient-specific joint replacement.

We’ll be on the lookout to see if this trend continues. March has proved to be a busy month for the medical device sector, and we still have two weeks left.