Stryker delves further into stroke devices with $135M purchase
Stryker of Kalamazoo, Mich., will acquire Concentric Medical in an all cash transaction for $135 million.
The Mountain View, Calif.-based Concentric manufactures and markets minimally invasive products for treatment of acute ischemic stroke. Its products include devices for removal of thrombus in patients experiencing acute ischemic stroke, and the company has a scheduled clinical trial in the U.S. for a clot-removal product, the Trevo Retriever device.
The transaction is expected to be neutral to Stryker’s 2011 earnings per share, according to the release, and is expected to close in the fourth quarter of 2011.
The Mountain View, Calif.-based Concentric manufactures and markets minimally invasive products for treatment of acute ischemic stroke. Its products include devices for removal of thrombus in patients experiencing acute ischemic stroke, and the company has a scheduled clinical trial in the U.S. for a clot-removal product, the Trevo Retriever device.
The transaction is expected to be neutral to Stryker’s 2011 earnings per share, according to the release, and is expected to close in the fourth quarter of 2011.