03.07.14
Kalamazoo, Mich.-based Stryker Corporation has completed the previously announced acquisition of Sunnyvale, Calif.-based Pivot Medical Inc. The all-cash deal adds to Stryker’s sports medicine business with its hip arthroscopy products.
Stryker also just completed the acquisition of German company Berchtold Holding, which makes surgical infrastructure equipment. In December 2013, Stryker completed its $1.65 billion acquisition of Mako Surgical Corp. and its robotic-surgery platform. The acquisition complemented Stryker’s existing line of replacement hip and knee joints and is intended to improve procedural efficiency. Stryker also announced the acquisition of Irvine, Calif.-based Patient Safety Technologies Inc. for $120 million in the same month. The acquisition helped Stryker gain access to Patient Safety’s device to reduce the risk of surgical sponges being left in patients after surgery.
The Pivot deal is not expected to affect Stryker’s 2014 earnings per share outside of acquisition, integration-related and intangible amortization charges.
However, Zacks financial analysts noted, “It is interesting to note that Stryker stock hit a new 52-week high of $83.86 in the previous trading session. Since the announcement of both the acquisitions, shares declined 1.8 percent till the last closing day.”
Stryker also just completed the acquisition of German company Berchtold Holding, which makes surgical infrastructure equipment. In December 2013, Stryker completed its $1.65 billion acquisition of Mako Surgical Corp. and its robotic-surgery platform. The acquisition complemented Stryker’s existing line of replacement hip and knee joints and is intended to improve procedural efficiency. Stryker also announced the acquisition of Irvine, Calif.-based Patient Safety Technologies Inc. for $120 million in the same month. The acquisition helped Stryker gain access to Patient Safety’s device to reduce the risk of surgical sponges being left in patients after surgery.
The Pivot deal is not expected to affect Stryker’s 2014 earnings per share outside of acquisition, integration-related and intangible amortization charges.
However, Zacks financial analysts noted, “It is interesting to note that Stryker stock hit a new 52-week high of $83.86 in the previous trading session. Since the announcement of both the acquisitions, shares declined 1.8 percent till the last closing day.”