Stryker acquired Boston Scientific Corp.'s neurovascular business for $1.5 billion, according to a Boston Scientific news release.
The transaction is expected to close before the end of the year. Boston Scientific Corp. expects to record a gain in excess of $500 million upon closing, and total after-tax proceeds are estimated at approximately $1.2 billion.
Under the agreement, Boston Scientific will provide transitional services and products to Stryker. During the transition, products will be sold to Stryker at a cost.
Read the release on Stryker's acquisition.
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- Stryker Acquires Gaymar Industries for $150M
The transaction is expected to close before the end of the year. Boston Scientific Corp. expects to record a gain in excess of $500 million upon closing, and total after-tax proceeds are estimated at approximately $1.2 billion.
Under the agreement, Boston Scientific will provide transitional services and products to Stryker. During the transition, products will be sold to Stryker at a cost.
Read the release on Stryker's acquisition.
Read more coverage on Stryker:
- Stryker Reports a 7% Net Sales Increase for 3Q 2010
- Stryker's Oren Gelman Discusses Trends Toward Single-Radius Knee Implant Design
- Stryker Acquires Gaymar Industries for $150M