Healthcare Industry News: Boston Scientific
News Release - January 3, 2011
Stryker Completes Acquisition of the Neurovascular Division of Boston ScientificKALAMAZOO, Mich., Jan. 3, 2011 -- (Healthcare Sales & Marketing Network) -- Stryker Corporation (NYSE:SYK ) announced today the closing of its previously announced acquisition of the assets of the Neurovascular division of Boston Scientific, the global leader in the approximately $900 million worldwide neurovascular market, which includes products used for the minimally invasive treatment of hemorrhagic and ischemic stroke.
"With the acquisition of Boston Scientific Neurovascular we are further broadening our footprint in one of the fastest growing and innovative segments of the medical technology market," said Stephen P. MacMillan, Chairman, President and Chief Executive Officer of Stryker. "We look forward to the ongoing introduction on next generation neurovascular devices that will improve outcomes for patients and help drive accelerating sales growth."
As indicated in the October 28, 2010 press release, the transaction is expected to be breakeven to slightly accretive to Stryker's 2011 earnings per share excluding acquisition and integration-related charges.
Stryker is one of the world's leading medical technology companies and is dedicated to helping healthcare professionals perform their jobs more efficiently while enhancing patient care. The Company provides innovative orthopaedic implants as well as state-of-the-art medical and surgical equipment to help people lead more active and more satisfying lives. For more information about Stryker, please visit www.stryker.com.
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