Skip to main content

Market Overview

Stryker To Pay Up To $375 Million For Ankle Replacement Company

Share:

Stryker (NYSE: SYK) agreed to pay up to $375 million to acquire Small Bone Innovations.

Stryker said its net cost will be up to $285 million after including resulting tax benefits, while 2013 sales of the products to be acquired from Small Bone were about $48 million. Stryker's 2013 sales were $9.02 billion.

The transaction, set to close in the third quarter, will dilute Stryker's 2014 earnings by $0.02 per share, the company said.

Products to be acquired include Small Bone's ankle replacement system called STAR, enabling Stryker product portfolio to comprehensively address foot and ankle procedures. Additional assets include finger, wrist, and elbow products, further broadening Stryker's upper extremity product offerings.

Stryker closed Friday up 0.76 percent at $83.97. Its shares are up nearly 30 percent in the past 12 months.

 

Related Articles (SYK)

View Comments and Join the Discussion!

Posted-In: Small Bone InnovationsM&A News

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com