Stryker Corporation (NYSE:SYK) announced today a definitive agreement to acquire all of the assets associated with Synergetics USA, Inc.’s neuro portfolio in an all cash transaction. The portfolio includes the Malis generator, Spetzler Malis disposable forceps, and Stryker’s existing Sonopet tips and RF generator. The Synergetics’ portfolio achieved OEM sales in 2015 of approximately $31 million.
“The acquisition of the Synergetics neuro portfolio is highly complementary to Stryker Instruments’ Neuro Spine & ENT (NSE) business and is aligned with NSE’s strategy of expanding its neurosurgical product offering,” stated Timothy J. Scannell, Group President, MedSurg and Neurotechnology.
The closing of the transaction is subject to expiration or termination of the applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. Upon closing, the transaction is expected to be neutral to Stryker’s 2016 adjusted earnings per share excluding acquisition, integration-related and intangible amortization charges and accretive thereafter. The transaction is expected to close in the first quarter of 2016.
Source: Stryker
Giovanni Caforio, the former CEO of Bristol Myers Squibb, is set to become the next board chairman of Novartis, which on Tuesday proposed the pharmaceutical industry veteran as its pick to replace Joerg Reinhardt in the role next year. Reinhardt has served as Novartis’ chair since 2013 and plans to retire when his 12-year term ends in 2025.
GE HealthCare has raised the curtain on two ultrasound systems equipped with artificial intelligence programs designed to assist in diagnosing conditions in women’s health, including obstetric exams. The Voluson Signature 20 and 18 imaging systems include AI tools capable of automatically identifying and annotating measurements of fetal anatomy.
Scientists from the University of Edinburgh’s School of Chemistry have revealed a new sustainable method of manufacturing complex molecules that could reduce waste produced during drug production. The method published in Nature Chemistry could help to prevent severe side effects caused by drugs that can exist as enantiomers.
