Stryker Announces Acquisition Of Synergetics USA's Neuro Portfolio, Notes 'Highly Complementary' Assets

Stryker Corporation SYK announced on Wednesday that it has entered into a definitive agreement to acquire all of the assets associated with Synergetics USA's neuro portfolio.

As part of the agreement, Stryker will acquire Synergetics' portfolio which includes the Malis generator, Spetzler Malis disposable forceps, and Stryker's existing Sonopet tips and RF generator.

The assets that Stryker acquired achieved sales of approximately $31 million in 2015.

"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.

Shares of Stryker were trading higher by 1.49 percent at $98.06 Wednesday afternoon.