Stryker to Buy Invuity for About $190 Million
September 11 2018 - 8:54AM
Dow Jones News
By Colin Kellaher
Stryker Corp. (SYK) on Tuesday said it reached a definitive
agreement to buy Invuity Inc. (IVTY) for $7.40 a share in cash, or
about $190 million.
The deal represents a roughly 29% premium to Invuity's closing
share price of $5.75 on Monday.
Stryker, a Kalamazoo, Mich., provider of medical technology
products and services, said Invuity's portfolio of advanced
photonics and single-use, lighted instruments is complementary to
its own surgical portfolio.
Stryker said the acquisition of San Francisco-based Invuity,
which it expects to complete in the fourth quarter, will have an
immaterial impact on its 2018 earnings.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 11, 2018 08:39 ET (12:39 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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