Small Bone Innovations, Inc. (SBi) today announced that Stryker Corporation (NYSE:SYK) will acquire substantially all the assets of SBi in an all cash transaction for up to $375 million.
The transaction is expected to close in the third quarter of 2014, subject to customary closing conditions including the expiration or termination of the Hart-Scott-Rodino Antitrust Improvements Act waiting period.
"This transaction is the next step of growth for Small Bone Innovations' world-class products --- especially the STAR™ Total Ankle --- and is a perfect fit with Stryker's product suite and global reach of its world-class distribution system," said Michael P. Simpson, President and CEO of SBi.
Stryker also announced the transaction today. That announcement can be found here: http://phx.corporate-ir.net/phoenix.zhtml?c=118965&p=irol-news&nyo=0
Piper Jaffray & Co. acted as financial advisor, Herrick, Feinstein LLP acted as lead transaction counsel, Morgan, Lewis & Bockius LLP acted as intellectual property counsel, Norton Rose Fulbright acted as regulatory counsel, and Musculoskeletal Clinical Regulatory Advisers, LLC acted as clinical, regulatory and quality systems advisor.
Source:
Small Bone Innovations, Inc.
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