Stryker Goes after Another from Most Attractive M & amp;A List

Now it could just be a coincidence, but it seems like Stryker is going after firms that made the list of the Top 25 Most Attractive Medtech Companies on the M&A Radar. In late August the Kalamazoo, MI-based firm revealed it would acquire K2M, a company that develops minimally invasive spine technologies and techniques, that was featured on the list. This time around Stryker is setting its sights on acquiring Invuity, which was also on the list, in a deal valued at $7.40 a share, or about $190 million. San Francisco, CA-based Invuity is known for its Intelligent Photonics devices used to evenly light surgical cavities. Placed at the site of surgery, the illuminators provide cool lighting that allows surgeons to see into dark surgical cavities. The handheld lighting devices are primarily used in breast, orthopedic, and spine procedures, but the company expanded into gynecology in 2016. Additional applications include procedures for general surgery, electrophysiology, spine and orthopedics. "The combination of Stryker's established leadership in minimal access surgery paired with Invuity’s suite of enabling visualization and surgical devices should facilitate better patient outcomes and operating room efficiencies in women’s health, general surgery, electrophysiology and orthopedics," Scott Flora, Invuity’s Interim CEO said in a release. "It is with this in mind that Invuity's board voted to recommend this transaction to ...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Source Type: news