Rumors of a Stryker acquisition of Smith & Nephew swirl once again: 6 key notes

Written by Anuja Vaidya | December 22, 2015 | Print  |

Stryker has set aside around $18 billion for the acquisition of Smith & Nephew, a person with knowledge of the situation has said, according a Street Insider report.

Here are six key notes:

 

1. The inside source also said Goldman Sachs is acting as advisor.

 

2. Rumors of Stryker trying to acquire Smith & Nephew have been circling for years.

 

3. In 2014, there were talks between the two, but Stryker withdrew after it became known that Medtronic was interested. However, Medtronic eventually acquired Smith & Nephew competitor Covidien.

 

4. In the company's 2015 third quarter conference call, Stryker CEO Kevin Lobo said merger and acquisition activity is difficult to predict in terms of timing, however, it remains a priority for the company.

 

5. Stryker's net sales were $2.4 billion in the third quarter of 2015, a 1.3 percent increase from the same period the year before. The net sales were negatively impacted by 4.6 percent due to the impact of foreign currency exchange rates.

 

6.  The orthopedic net sales reached $1 billion, up 0.3 percent over the same period last year.

 

More articles on devices:
Chondroitin sulfate proves effective for osteoarthritis patients — 5 findings
Alphatec's shares dip by 4.39% — 4 points
Xtant Medical's Aranax Cervical Plating System successfully used in 1st procedure: 5 key notes

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies here.

Top 40 Articles from the Past 6 Months