Stryker Announces Acquisition of Privately-Held Porex Surgical
The Kalamazoo medical device company Stryker Corp. (NYSE: SYK) announced the acquisition of privately-held Porex Surgical, a division of Porex Corp.
Founded in 1961 and based in Fairburn, Ga., Porex Surgical is a developer, manufacturer and distributor of bioimplantable porous polyethylene products for use primarily in reconstructive surgery of the head and face.
Porex has a long history in the PPE market with strong brand recognition and clinical data supported by approximately 350 references in peer-reviewed journals. The product portfolio and customer base complements Stryker’s existing offering in the craniomaxillofacial market.
Porex products serve filtration, venting, wicking, and diffusing functions in applications such as blood filters, catheter vents, specialty filters, writing instrument tips and consumable diagnostic tests.
“The acquisition of Porex Surgical further expands on our presence in the CMF market and allows us to broaden our product offering to both patients and clinicians,” said Stephen P. MacMillan, Chairman, President and Chief Executive Officer of Stryker.
The transaction is expected to be neutral to Stryker’s 2010 and 2011 earnings per share and accretive thereafter. Terms of the transaction were not immediately disclosed.
Stryker manufactures and sells orthopaedic implants and medical and surgical equipment.
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