Stryker kickstarts offering for $3.1B communications company

Alan Condon -  

Stryker has initiated a cash tender offer to purchase all outstanding shares of common stock of Vocera Communications for $79.25 per share in cash, the company said Jan. 25.

Three notes:

1. Earlier this month, the spine device company signed a definitive agreement to acquire Vocera for $3.1 billion. The acquisition will help the company address the increasing need for hospitals to connect caregivers and disparate data-generating medical devices.

2. The tender offer will expire at one minute past 11:59 p.m. EST on Feb. 22. It is subject to various conditions, including a minimum tender of at least a majority of outstanding shares of Vocera common stock.

3. The acquisition is expected to close this quarter.

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