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BREAKING – Stryker buys Small Bone Innovations for up to $375M

 — Medical device maker Stryker said Monday it will buy bone and joint replacement maker Small Bone Innovations for up to $375 million in cash.

Stryker said the deal will cost it as much as $285 million after tax benefits. Small Bone Innovations makes products that are used to treat conditions that affect the ankle, fingers, wrist, and elbow. Its main product is the STAR Ankle system, a total ankle replacement device with three pieces =that does not need cement. Stryker said Small Bone Innovations had $48 million in product sales in 2014.

Small Bone Innovations is based in Morrisville, Pennsylvania, with facilities in France and Germany. Stryker, of Kalamazoo, Michigan, said it expects to complete the acquisition during the third quarter. The company said the purchase will reduce its 2014 net income by 2 cents per share excluding one-time charges.

Shares of Stryker Corp. rose 45 cents to $84.42 in morning trading.

Read more here: http://www.bellinghamherald.com/2014/06/30/3726576/stryker-buys-joint-device-maker.html?sp=/99/602/#storylink=cpy

 

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Josh Sandberg

Josh Sandberg is the President of Ortho Sales Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

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