Stryker Corporation (NYSE: SYK) announced a definitive agreement to acquire all of the assets associated with Synergetics USA, Inc.’s neuro portfolio in an all cash transaction. The portfolio includes the Malis generator, Spetzler Malis disposable forceps, and Stryker’s existing Sonopet tips and RF generator. The Synergetics’ portfolio achieved OEM sales in 2015 of approximately $31 million.
“The acquisition of the Synergetics neuro portfolio is highly complementary to Stryker Instruments’ Neuro Spine & ENT (NSE) business and is aligned with NSE’s strategy of expanding its neurosurgical product offering,” stated Timothy J. Scannell, Group President, MedSurg and Neurotechnology.
The closing of the transaction is subject to expiration or termination of the applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. Upon closing, the transaction is expected to be neutral to Stryker’s 2016 adjusted earnings per share excluding acquisition, integration-related and intangible amortization charges and accretive thereafter. The transaction is expected to close in the first quarter of 2016.
