The Synergetics acquisition comes just a week after the company acquired Sage Products from Madison Dearborn Partners for $2.7 billion. Here are five key notes on the most recent transaction:
1. Stryker is purchasing all assets from Synergetics’ neuro portfolio in an all-cash transaction.
2. The neuro portfolio includes the Malis generator, Spetzler Malis disposable forceps and Stryker’s existing Sonopet tips and RF generator.
“The acquisition of the Synergetics neuro portfolio is highly complementary to Stryker Instruments’ Neuro Spine & ENT business and is aligned with NSE’s strategy of expanding its neurosurgical product offering,” said Stryker Group President, MedSurg and Neurotechnology Timothy J. Scannell.
3. Synergetics achieved OEM sales of around $31 million last year. However, the transaction is expected to be neutral to Stryker’s 2016 earnings per share excluding acquisition, integration-related and intangible amoritization changes and accretive thereafter.
4. The transaction is still subject to expiration or termination of the applicable waiting period.
5. The final transaction is expected to close during the first quarter of this year.
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