Stryker to buy Memometal for $150 million in cashAccording to a published report, the Stryker Corporation announced this week that it will acquire Memometal Technologies in an all-cash transaction. 

According to a press release from Stryker Corp., the company will buy Memometal for $150 million. France-based Memometal is responsible for the devleopment and manufacturing of certain metal alloys used in a host of industries. Stryker executives said the deal will allow the company to further infiltrate the fast-growing extremities market for medical devices.

"The acquisition of Memometal provides Stryker with the platform to further establish our company as a key player in the rapidly growing foot and hand segment of the extremities market and creates a strong presence in the podiatric surgery market," said Stryker president and chief executive Stephen P. MacMillan.

According to Stryker, regulators must still approve the deal, but it is expected to close during the third quarter of 2011. Stryker is one of the biggest medical device makers in the world and with the new acquisition, it could cement its place at the forefront of emerging medical technology, MacMillan affirms.
Share To:

Strategic Sourceror

Post A Comment:

0 comments so far,add yours