Sector News

Stryker Announces Definitive Agreement to Acquire Muka Metal, A.S.

July 22, 2015
Life sciences
Stryker Corporation SYK, +0.69% announced today a definitive agreement to acquire Muka Metal, A.S. (“Muka”) in an all cash transaction. Muka, headquartered in Kayseri, Turkey, sells hospital beds, stretchers and related patient room furniture and accessories that serve markets across Turkey and other regions globally.
 
“The acquisition of Muka aligns with our strategy to expand our global presence through existing channels with an established and trusted brand,” said Timothy J. Scannell, Stryker Group President, MedSurg and Neurotechnology. “This acquisition will bolster Stryker Medical’s bed and stretcher offerings, and is a compelling opportunity to drive growth in Turkey and other regions around the world.”
 
Stryker and Muka have maintained a relationship under a distribution agreement for Latin America since 2012, and with this acquisition Stryker will expand its global presence in key markets with a product portfolio that complements and enhances Stryker’s current offerings.
 
Since launching its first hospital bed in 2002, Muka has established itself as a leading manufacturer and marketer of hospital beds, stretchers and related patient room furniture and accessories. Muka finished construction in mid-2014 of a modern, state of the art facility located in a free trade zone within Kayseri.
 
The closing of the transaction is subject to customary closing conditions. Upon closing, 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. The transaction is expected to close in the third quarter of 2015.
 
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.”