Stryker Acquires Invuity for $7.40/Share
Stryker has entered into a definitive agreement to acquire all the issued and outstanding shares of Invuity for $7.40 per share, or a total equity value of approximately $190 million.
Here's what you need to know -
1. Invuity is the leader in advanced photonics and single-use, lighted instruments that deliver enhanced visualization for a wide variety of clinical applications including orthopaedic and spine surgery, general surgery, and women's health procedures, and is a recent entrant into the enhanced energy market.
2. Invuity's portfolio of innovative products is highly complementary to the Surgical portfolio of Stryker's Instruments business.
3. "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," said Scott Flora, Invuity’s Interim Chief Executive Officer. "It is with this in mind that Invuity's Board of Directors voted to recommend this transaction to Invuity’s stockholders."
4. Stryker has been on an acquisition spree in the last year, picking up:
PhotonBlade Dynamic Precision Illuminator with Enhanced Energy
"Invuity's innovative products in the single-use lighted instrumentation and enhanced energy markets provide best in class illumination and help make surgery safer," stated Spencer S. Stiles, Group President, Neurotechnology, Instruments and Spine. "I look forward to the work we will do together to advance Stryker's mission of making healthcare better."