Stryker Strikes Two Deals in Two Weeks

Medical device maker Stryker Corporation (NYSE: SYK) announced its second deal in two weeks, buying the neurosurgery tools portfolio of Synergetics USA Inc. for an undisclosed sum. The portfolio consists of Synergetics’  Malis generator, Spetzler Malis disposable forceps, and Stryker’s existing Sonopet tips and RF generator. The products will complement Stryker’s neuro, spine and ear-nose-throat business, as well as expand its neurosurgical offerings.

The first deal, announced on February 1, was Stryker’s nearly $2.8 billion acquisition of Sage Products, LLC, a portfolio company of Madison Dearborn Partners, LLC. Sage develops, manufactures and distributes disposable products targeted at reducing events such as hospital-acquired infections, primarily in the ICU and MedSurg hospital unit. The transaction includes an anticipated future tax benefit that is expected to exceed $500 million and to positively impact cash flow for over approximately 15 years.

 

 

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