Sector News

Stryker to buy Entellus Medical for $662 mln

December 8, 2017
Life sciences

Medical device maker Stryker Corp said on Thursday it would buy medical technology company Entellus Medical Inc in a deal valued at about $662 million, adding heft to its ENT business.

Stryker would pay $24 per Entellus share, a premium of about 50 percent to Entellus’s Wednesday close.

The deal to expected to be dilutive to Stryker’s 2018 adjusted net earnings per share by about 4 cents, but accretive thereafter, the company said.

By Divya Grover

Source: Reuters

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