Stryker buys Patient Safety Technologies for $108mm
Device giant Stryker Corp. agreed to buy Patient Safety Technologies Inc. (PST; has a technology to prevent retained surgical sponges). Stryker offered $2.22 per common share in cash (a 51% premium), and cash in exchange for their preferred shares ($100 for each of 11k Series A preferred, and $296 for each of 70k Series B shares). The total deal value is about $108mm.
- Medical Devices
- Surgical Equipment & Devices
- Full Acquisition
- Includes Contract
- Payment Includes Cash
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