Medical technology firm Stryker has completed the acquisition of Physio-Control International from private-equity firm Bain Capital for $1.28bn.
The deal is anticipated to be slightly accretive to Stryker’s 2016 adjusted net earnings per diluted share and to be accretive thereafter.
Physio-Control develops, produces and sells monitors/defibrillators, automated external defibrillators (AEDs) and CPR-assist devices.
The company also provides data management and support services for its customers.
Physio-Control’s portfolio compliments Stryker’s emergency medical services business unit, in addition to expanding its operations across the globe.
At the time of acquisition, Stryker chairman and CEO Kevin Lobo said: "Physio-Control has achieved global leadership positions with a strong brand and customer-centered solutions that can predict or intervene in life-threatening emergencies."
Earlier this month, Stryker also completed the acquisition of Sage Products from Madison Dearborn Partners, for around $2.775bn.
Sage develops, produces and markets disposable products, which will be used in the intensive care unit and hospital unit setting.
Stryker, which carries out operations in around 100 countries, produces products in different segments such as orthopaedics, medical and surgical, and neurotechnology and spine.
Image: Stryker has acquired Bain Capital Private Equity portfolio company Physio-Control International. Photo: courtesy of stockimages / FreeDigitalPhotos.net.