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
Monday, the French pharma giant officially moved into its new global home base in Paris, dubbed La Maison Sanofi. The 9,000-square-meter (about 96,875-square-foot) facility comprises two historic buildings and will host around 500 employees, the company explained in a release.
On the first day of the new year, former Sandoz chief Richard Francis will take the reins from Schultz, who is hanging up his CEO hat to retire on Dec. 31, Teva said Monday. The news comes a little more than two weeks after Teva publicly said it was looking for Schultz’s replacement.
General Electric Co. set the terms for the spinoff of its healthcare division, putting an initial value of roughly $31 billion on the soon-to-be-public company. The Boston conglomerate plans to split into three separate public companies by early 2024. Following the healthcare spinoff, it plans to separate its aerospace business from its power and renewable-energy units.