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Stryker Completes Buy Of Boston Scientific Division

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(credit: istock) Technology Report
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Kalamazoo-based Stryker Corp. (NYSE: SYK) announced Monday the closing of its previously announced acquisition of the assets of the Neurovascular division of Boston Scientific, the global leader in the approximately $900 million worldwide neurovascular market, which includes products used for the minimally invasive treatment of hemorrhagic and ischemic stroke.

“With the acquisition of Boston Scientific Neurovascular we are further broadening our footprint in one of the fastest growing and innovative segments of the medical technology market,” said Stephen P. MacMillan, chairman, president and CEO of Stryker. “We look forward to the ongoing introduction on next generation neurovascular devices that will improve outcomes for patients and help drive accelerating sales growth.”

As announced Oct. 28, the transaction is expected to be breakeven to slightly accretive to Stryker’s 2011 earnings per share excluding acquisition and integration-related charges.

Stryker develops, builds and markets orthopaedic implants as well as state-of-the-art medical and surgical equipment to help people lead more active and more satisfying lives.

More at www.stryker.com.

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