Stryker has agreed to buy Ascent Healthcare Solutions, the No. 1 reprocessor of single-use medical devices in the country, according to a release from Stryker.
In orthopedics, Ascent reprocesses external fixation devices originally manufactured by Stryker Trauma as well as Synthes, Smith & Nephew and DePuy Orthopedics.
The deal, valued at $525 million, will allow Ascent to keep its name and become a standalone operating division within Stryker.
Ascent has had frosty relations with single-use manufacturers, which have insisted that reuse of their products is too risky, but the company has received FDA clearances for a long list of remanufactured devices.
The reprocessed devices, which are priced much lower than the original ones, are sold to 1,800 hospitals through direct contracts and through numerous group purchasing organizations.
"This collaboration validates how important it is for manufacturers and reprocessors to work together for the benefit of our customers," releases from both companies stated.
"These two companies share common values of innovation, quality and leadership that will enable their partnership to produce strong and immediate benefits to hospitals," Stryker said in its release.
Working with Stryker "will allow Ascent to expand its reach and align its service model with technology advancements driven by Stryker," Ascent stated in its release.
Ascent was formed by the 2005 merger of Vanguard Medical Concepts and Alliance Medical Corp.
Read the release on Stryker's purchase of Ascent.
In orthopedics, Ascent reprocesses external fixation devices originally manufactured by Stryker Trauma as well as Synthes, Smith & Nephew and DePuy Orthopedics.
The deal, valued at $525 million, will allow Ascent to keep its name and become a standalone operating division within Stryker.
Ascent has had frosty relations with single-use manufacturers, which have insisted that reuse of their products is too risky, but the company has received FDA clearances for a long list of remanufactured devices.
The reprocessed devices, which are priced much lower than the original ones, are sold to 1,800 hospitals through direct contracts and through numerous group purchasing organizations.
"This collaboration validates how important it is for manufacturers and reprocessors to work together for the benefit of our customers," releases from both companies stated.
"These two companies share common values of innovation, quality and leadership that will enable their partnership to produce strong and immediate benefits to hospitals," Stryker said in its release.
Working with Stryker "will allow Ascent to expand its reach and align its service model with technology advancements driven by Stryker," Ascent stated in its release.
Ascent was formed by the 2005 merger of Vanguard Medical Concepts and Alliance Medical Corp.
Read the release on Stryker's purchase of Ascent.