Medical technology firm Stryker has 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.
The company had generated sales of around $503m in last fiscal year.
Physio-Control’s portfolio will compliment Stryker’s emergency medical services business unit, as well as expand its operations across the globe.
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."
Physio-Control president and CEO Brian Webster said: "Stryker has a deep understanding of capital equipment and of our core market segments.
"We will build on the success our team has achieved in partnership with Bain Capital, and further accelerate the execution of our strategy, including continued investment in great product solutions for our customers."
Subject to customary closing conditions, the deal is expected to complete in the second quarter of this year.
Earlier this month, Stryker signed an agreement to acquire neuro portfolio of Synergetics USA, which includes the Malis generator and Spetzler Malis disposable forceps.
The portfolio also includes Stryker’s existing Sonopet tips and RF generator.
With operations in around 100 countries, Stryker produces products in various segments, including orthopaedics, medical and surgical, and neurotechnology and spine.
Image: Stryker to acquire Bain Capital Private Equity portfolio company Physio-Control International. Photo: courtesy of stockimages / FreeDigitalPhotos.net.