Stryker Announces Definitive Agreement to Acquire Muka Metal, A.S.

Kalamazoo, Michigan - July 20, 2015 - Stryker Corporation SYK announced today a definitive agreement to acquire Muka Metal, A.S. ("Muka") in an all cash transaction. Muka, headquartered in Kayseri, Turkey, sells hospital beds, stretchers and related patient room furniture and accessories that serve markets across Turkey and other regions globally. 

"The acquisition of Muka aligns with our strategy to expand our global presence through existing channels with an established and trusted brand," said Timothy J. Scannell, Stryker Group President, MedSurg and Neurotechnology. "This acquisition will bolster Stryker Medical's bed and stretcher offerings, and is a compelling opportunity to drive growth in Turkey and other regions around the world."

Stryker and Muka have maintained a relationship under a distribution agreement for Latin America since 2012, and with this acquisition Stryker will expand its global presence in key markets with a product portfolio that complements and enhances Stryker's current offerings.

Since launching its first hospital bed in 2002, Muka has established itself as a leading manufacturer and marketer of hospital beds, stretchers and related patient room furniture and accessories. Muka finished construction in mid-2014 of a modern, state of the art facility located in a free trade zone within Kayseri. 

The closing of the transaction is subject to customary closing conditions. Upon closing, the transaction is expected to be neutral to Stryker's 2015 earnings per share excluding acquisition, integration-related and intangible amortization charges and accretive thereafter. The transaction is expected to close in the third quarter of 2015.

About Stryker

Stryker is one of the world's leading medical technology companies and together with our customers, we are driven to make healthcare better. The Company offers a diverse array of innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine, which help improve patient and hospital outcomes.  Stryker is active in over 100 countries around the world.  Please contact us for more information at www.stryker.com.

Contacts

For media inquiries please contact:
Yin Becker, Stryker Corporation, 201-831-5000 or  yin.becker@stryker.com

For investor inquiries please contact:
Katherine A. Owen, Stryker Corporation, 269-385-2600 or  katherine.owen@stryker.com

Forward Looking Statements

This press release contains information that includes or is based on forward-looking statements within the meaning of the federal securities law that are subject to various risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in such statements. Such factors include, but are not limited to: weakening of economic conditions that could adversely affect the level of demand for our products; pricing pressures generally, including cost-containment measures that could adversely affect the price of or demand for our products; changes in foreign exchange markets; legislative and regulatory actions; unanticipated issues arising in connection with clinical studies and otherwise that affect U.S. Food and Drug Administration approval of new products; changes in reimbursement level from third-party payors; a significant increase in product liability claims; the ultimate total cost with respect to the Rejuvenate and ABG II matter; the impact of investigative and legal proceedings and compliance risks; resolution of tax audits; the impact of the federal legislation to reform the United States healthcare system; changes in financial markets; changes in the competitive environment; our ability to integrate acquisitions, including the acquisition of Muka Metal, A.S.; and our ability to realize anticipated cost savings as a result of workforce reductions and other restructuring activities. Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.