Stryker announced today that they have completed the acquisition of NOVADAQ Technologies Inc. The final agreement will be to acquire NOVADAQ's equity at $11.75 per share, or a total price of $701 million. The current market value of NOVADAQ is $654 million, which is equivalent to $47 million for NOVADAQ. Net cash.
NOVADAQ is a leading developer of fluorescent imaging technology. The imaging platform they developed is used for visualization of blood vessels, nerves and lymphatic systems during surgery, and for perfusion of heart, cardiovascular and gastrointestinal tissues, microsurgery. Surgery and reconstruction surgery help. NOVADAQ was founded in 2000 and is headquartered in Mississauga, Canada.
“The acquisition of Stryker is mainly to enhance the visibility of cross-professional surgery to allow our customers to see more possibilities and to believe that they can do more in the future.†Timothy J, Chairman of MedSurg and NeuroTechnology Group . Scannell said, "NOVADAQ's unique innovative technology complements Stryker's advanced imaging portfolio and extends our products to open plastic reconstruction procedures. NOVADAQ's innovative technology can reduce the incidence of postoperative complications and reduce each The cost of care for surgical treatment."
“This revolutionary transaction demonstrates the unique value of our original NOVADAQ,†said Rick Mangat, President and CEO of NOVADAQ. “We are using SPY and PINPOINT technology for breast reconstruction and colorectal surgery and other minimally invasive applications. We are proud of the impact of this. We look forward to further development with the new identity of Stryker."
According to the Canadian Companies Act, there are a number of things that need to be dealt with in the transaction, which is expected to be completed by the end of the third quarter of this year and is expected to result in a diluted net income per share of 0.03-0.05 per share for Stryker. Stryker’s net income after dilution is expected to remain unchanged in 2017, between $6.35 and $6.45. It remains to be seen how the deal is expected to play a role in Stryker’s earnings and subsequent growth in 2018.
Covington & Burling Law Firm and Osler, Hoskin & Harcout Law Firm will act as legal counsel to deal with Stryker's transactions related to the transaction.
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