Sector News

Stryker acquires intensive-care product maker for $2.76 billion

February 3, 2016
Life sciences

Medical-device maker Stryker reached a deal to buy a 45-year-old manufacturer of health-care treatment products for hospitals for $2.76 billion.

Stryker is acquiring Sage Products from private equity firm Madison Dearborn Partners, the companies said in a statement Monday.

Cary, Ill.-based Sage, which had $430 million in revenue in its 2015 fiscal year, makes disposal products aimed primarily at intensive-care units and other hospital settings. Its products include solutions for patient cleaning, turning and positioning, oral care and skin preparation. Stryker sells products that are complementary to those produced by Sage, the companies said.

Stryker, based in Kalamazoo, Mich., said it would glean a $500 million tax benefit from the deal, which is expected to close in the second quarter.

“This acquisition aligns with Stryker’s focus on offering products and services that support a mindset of prevention, specifically in the area of ‘never events’ such as hospital-acquired infections,” Stryker CEO Kevin Lobo said in a statement.

Stryker raised its full-year 2016 earnings projection by 5 cents per share to a range of $5.55 to $5.75.

By Nathan Bomey

Source: USA Today

comments closed

Related News

May 15, 2022

Novo Nordisk and Flagship Pioneering announce a strategic collaboration to create a portfolio of transformational medicines

Life sciences

The companies will explore opportunities to apply Flagship’s innovative bioplatforms – an ecosystem that currently comprises 41 companies – to scientific challenges in disease areas within cardiometabolic and rare diseases and initiate research programmes based on these.

May 15, 2022

BD, Babson set sights on bringing simple blood collection into the home

Life sciences

BD is expanding its long-running partnership with the blood collection company Babson Diagnostics. The two companies have been working together since 2019 on a device that can gather small volumes of blood from the capillaries in the fingertip without requiring any specialized training, and beginning with a focus on supporting primary care in retail settings.

May 15, 2022

CSL’s $11.7B Vifor buy, 2021’s biggest biopharma M&A deal, hits antitrust delay

Life sciences

Wednesday, Australian biotech CSL said (PDF) the regulatory review of its $11.7 billion acquisition of Switzerland’s Vifor Pharma will take “a few more months,” suggesting it won’t be able to close the transaction by June 2022 as previously expected.