Medical technology firm Stryker has completed the acquisition of Sage Products from Madison Dearborn Partners, for around $2.775bn.
The deal was first announced by both firms in February this year. The transaction also included a predicted future tax benefit, which is expected to exceed $500m.
Based in Cary of Illinois, Sage develops, produces and disposable products, which will be used in the intensive care unit and hospital unit setting.
The company also produces solutions for oral care, skin preparation and protection, patient cleaning and hygiene, turning and positioning devices, as well as heel care boots.
Sage reported sales of around $430m in last fiscal year.
At the time of acquisition, Stryker chairman and CEO Kevin Lobo said: "This acquisition aligns with Stryker’s focus on offering products and services that support a mindset of prevention, specifically in the area of "Never Events" such as hospital acquired infections.
"Today, through our Medical division, Stryker offers products that are complementary to those produced by Sage."
In February, Stryker also agreed to acquire Physio-Control International, a portfolio company of Bain Capital Private Equity, for around $1.28bn.
Established in 1955, Physio-Control produces and markets products including monitors/defibrillators, automated external defibrillators (AEDs) and CPR-assist devices.
Image: Stryker has completed the acquisition of US firm Sage Products. Photo: courtesy of stockimages / FreeDigitalPhotos.net.