Stryker Corporation completed the acquisition of Cerus Endovascular Ltd for approximately $530 million.
May 01, 2023
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Stryker Corporation (NYSE:SYK) signed an agreement to acquire Cerus Endovascular Ltd on September 30, 2022. BofA Securities acted as a financial advisor to Cerus Endovascular. David Rosenthal, Abbi Cohen, Susan Hendrickson, and Sean Geraghty, John Ix and Francois Quintard-Morenas; John Alessi and Seth Ray; and Jodie Valler-Feltham, Kenneth Winterbottom, Nicholas Thompson, David Nicholls, Jonathan Burke, Rose Limaye, Michael Mbiti and Devyn Kurpis, as well as Daniel Natoff and Darshak Dholakia and Hillary Bonaccorsi, Daniel Murdock and Harley Evans; Timothy Blank and Thomas Rayski and Stephanie Kwan; James Fishkin and Clemens York, Michael Okkonen and Beverly J. Ang, and Dennis Schmelzer and Isabella Egetenmeir; Jeffrey Rubin and Julia Canzoneri; Kevin Kay and Naina Kamath and Tabitha Crosier; Daniel Hawthorne and Kevin Zaragoza and Nicolas Kokkinos and Ishani Kundu-Sahni of Dechert acted as legal advisors to Cerus Endovascular in the transaction. As of February 23, 2023, The Competition and Markets Authority is investigating the anticipated acquisition. The Competition and Markets Authority has approved the transaction as of April 17, 2023.
Stryker Corporation (NYSE:SYK) completed the acquisition of Cerus Endovascular Ltd for approximately $530 million on May 2, 2023. Stryker acquired Cerus Endovascular for $300 million in cash and up to $225 million in future milestone payments.
Stryker Corporation is one of the world's leaders in designing, manufacturing, and selling orthopedic equipments. Net sales break down by family of products as follows:
- surgical equipments and neurotechnology products (57.5%): electric motorized surgical instruments, surgical navigation systems, endoscopy equipment, digital imaging systems, neurosurgery equipments, neurovascular devices, etc. The group also offers hospital beds, gurneys, stretchers, and emergency room equipment;
- orthopedic implants (42.5%): joint prostheses, traumatology implants, micro-implants, orthopedic cement, orthobiology products, etc. The group also provides spinal implants.
At the end of 2022, the group had 48 production sites worldwide.
Net sales are distributed geographically as follows: the United States (73.9%), Europe/Middle East/Africa (12.7%), Asia/Pacific (10.2%) and other (3.2%).