Kalamazoo, Mich.-based Stryker acquired San Francisco-based Invuity, a surgical illumination products company.
This acquisition comes on the heels of Stryker's plans to acquire K2M, a minimally invasive complex spine surgery device company, announced on Aug. 30 for $1.4 billion. Here are five things to know about the company's acquisition of Invuity:
1. Stryker plans to purchase outstanding shares of common stock of Invuity for $7.40 per share, which would make the entire transaction around $190 million.
2. Under the agreement, a subsidiary of Stryker will make the offer to purchase outstanding shares of common stock in cash. Both companies' boards of directors have approved the transaction.
3. The acquisition is still subject to the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and customary closing conditions.
4. The companies expect to close the transaction during the fourth quarter of 2018. Invuity's products are complementary to Stryker's surgical portfolio within the instruments business.
5. Stryker expects the acquisition will have an "immaterial impact" on its net earnings.
Invuity was founded in 2004 and includes a portfolio of products covering orthopedic and spine surgery as well as general surgery and women's health procedures. Invuity also recently entered the enhanced energy market.