Sector News

Stryker Acquires the Assets of CHG Hospital Beds, Inc.

January 5, 2015
Life sciences
Stryker Corporation announced today the asset acquisition of privately-held CHG Hospital Beds, Inc. (“CHG”) in an all cash transaction. CHG, headquartered in London, Ontario, Canada, sells innovative hospital beds that serve markets across Canada, the United States and the United Kingdom.
 
Founded in 2003, CHG designs, manufactures and markets a series of low-height hospital beds and related accessories. CHG’s beds allow a patient’s feet to sit flat on the floor while he/she is sitting at the edge of the bed. The low-height design helps reduce the risk of patient falls that are related to entering and exiting hospital beds. Among CHG’s innovative offerings is the recently launched Spirit One bed which is an expandable low-height bariatric bed for the acute care segment.
 
“The acquisition of CHG aligns with Stryker’s commitment to offering products that enhance the quality of care for both patients and healthcare professionals; in this case, aiding in the prevention of patient related injuries resulting from a fall from a hospital bed,” said Timothy J. Scannell, Group President, MedSurg and Neurotechnology. “This acquisition will bolster Stryker Medical’s bed offerings and allow us to offer additional solutions to our customers.”
 
The transaction is expected to be neutral to Stryker’s 2015 earnings per share excluding acquisition, integration-related and intangible amortization charges and accretive thereafter.
 
Source: Stryker

comments closed

Related News

May 21, 2022

As monkeypox cases emerge in US and Europe, Bavarian Nordic inks vaccine order

Life sciences

A monkeypox outbreak is emerging in the U.S. and Europe, and at least one country is amping up countermeasure preparedness. Bavarian Nordic has secured a contract with an unnamed European country to supply its smallpox vaccine, called Imvanex in Europe, in response to the emergence of monkeypox cases, the Danish company said Thursday.

May 21, 2022

Moderna chairman Afeyan defends hiring practices after CFO debacle: report

Life sciences

Moderna’s recent chief financial officer debacle—in which Jorge Gomez departed on his second day on the job—raised questions about the company’s hiring process given its rush to global biopharma prominence. The most obvious one: How was it possible for Gomez to be hired when he was under investigation by his previous employer, Dentsply Sirona of Charlotte, N.C.

May 21, 2022

Merck to pay up to $1.4B in cancer deal with Kelun, but details are scarce

Life sciences

Merck & Co. is plucking a cancer project from the branch of Chinese-based Kelun Pharmaceutical for up to $1.4 billion, but details from the New Jersey-based Big Pharma have been hard to come by. The deal, first disclosed Monday on the Shenzhen stock exchange, has Merck handing over $47 million in upfront cash in exchange for ex-China rights to a “macromolecular tumor project.”