Stryker Announces Definitive Agreement to Acquire Surpass Medical for $135 Million - Stryker (NYSE:SYK)

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Stryker Corporation (NYSE: SYK)announced today a definitive agreement to acquire privately-held SurpassMedical, Ltd. (Surpass) in an all cash transaction for $100 million and up toan additional $35 million of milestone payments. Founded in 2005 andheadquartered in Tel Aviv, Israel with manufacturing and R&D in Miramar,Florida, Surpass is developing and commercializing next-generation flowdiversion stent technology to treat brain aneurysms using a unique mesh designand delivery system. Surpass' key product, the NeuroEndoGraft family of flowdiverters, is designed to redirect blood flow away from an aneurysm, allowinga stable clot to be formed within the aneurysm pouch. The NeuroEndoGraft is CEMarked with a limited launch underway outside the U.S. In addition, thecompany will begin enrolling patients in an IDE clinical trial in the fourthquarter of 2012.

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