Stryker closes $1.3B Physio-Control deal

Stryker (NYSE:SYK) said today that it closed the $1.28 billion acquisition of automated external defibrillator maker Physio-Control from Bain Capital. Medtronic (NYSE:MDT) sold Physio-Control to Bain for $478 million in January 2012. The all-cash deal is expected to add slightly to Stryker’s adjusted earnings per share this year, the Kalamazoo, Mich.-based company said when the deal was announced in February. Stryker boosted its earnings outlook for the year to reflect contributions from Physio-Control and recent buy Sage Products, saying it now expects to post adjusted EPS of $5.57 to $5.77, up from guidance for $$5.55 to $5.75. The acquisitions are forecast to contribute 15¢ to 18¢ to adjusted EPS next year, Stryker said. Redmond, Wash.-based Physio-Control, which put up sales of $503 million during fiscal 2015, is due to be integrated into Stryker’s emergency medical systems portfolio, the company said. “Physio-Control has achieved global leadership positions with a strong brand and customer-centered solutions that can predict or intervene in life-threatening emergencies,” chairman & CEO Kevin Lobo said at the time. “Physio-Control’s focused strategy and their culture will fit well within the EMS business of our medical division, further leveraging our existing call pattern. We look forward to welcoming the Physio-Control team to Stryker.” “Joining Stryker is an exciting next step in the evolution of Physio-Control for both our team and our ...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Mergers & Acquisitions Resuscitation Wall Street Beat Physio-Control Inc. Stryker Source Type: news