Stryker agrees to acquire Physio-Control for $1.28 billion
Stryker Corporation agreed to buy Physio-Control International on Feb. 16 for $1.28 billion in an all-cash deal.
Bain Capital, a private equity firm, acquired Physio-Control from Medtronic in November 2011 for approximately $487 million in cash.
Physio-Control, which was founded in 1955, develops, manufactures and markets monitors/defibrillators, automated external defibrillators and CPR-assist devices. Stryker said in a news release that Physio-Control will complement Stryker Medical’s Emergency Medical Services offering.
For fiscal 2015, Physio-Control’s sales increased 6 percent to $503 million.
Stryker said the deal was subject to customary closing conditions but should be completed by the second quarter of 2016. Stryker expects the deal to be accretive to adjusted earnings per share (EPS) in 2016 and 2017.
Stryker also revised its adjusted EPS guidance to $5.57-$5.7 in 2016, an increase of 8.8-12.7 percent.
Executive Editor
Tim Casey joined TriMed Media Group in 2015 as Executive Editor. For the previous four years, he worked as an editor and writer for HMP Communications, primarily focused on covering managed care issues and reporting from medical and health care conferences. He was also a staff reporter at the Sacramento Bee for more than four years covering professional, college and high school sports. He earned his undergraduate degree in psychology from the University of Notre Dame and his MBA degree from Georgetown University.