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Slide #37. Stryker Corporation — Patient Safety Technologies, Inc.
Acquirer:
Stryker Corporation (NYSE:SYK)
Acquiree:
Patient Safety Technologies, Inc.
Details:
Stryker Corporation (NYSE:SYK) announced today a definitive agreement to acquire Patient Safety Technologies, Inc. (PSTX) for $2.22 per share, with an aggregate purchase price of $120 million. Patient Safety Technologies conducts its business through its wholly owned subsidiary, SurgiCount Medical, Inc. The company's proprietary Safety-Sponge System and SurgiCount 360(TM) compliance software help prevent Retained Foreign Objects (RFOs) in the operating room, thereby improving patient safety and reducing healthcare costs. The System includes bar-coded surgical sponges and towels, an integrated barcode scanner, and compliance tracking software. 2013 actual revenue through nine months are $14.9 million.
Stryker is a medical technology company. Co. has two segments: MedSurg and Neurotechnology and Orthopaedics and Spine. MedSurg products include surgical equipment, patient and caregiver safety technologies, and navigation systems, endoscopic and communications systems, patient handling, and emergency medical equipment and intensive care disposable products. Neurotechnology includes neurosurgical, neurovascular and craniomaxillofacial implant products. Orthopaedics products consist primarily of implants used in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries. Co.'s spinal implant offering includes cervical and thoracolumbar systems.
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