Stryker To Acquire Assets Of Small Bone Innovations - Quick Facts

(RTTNews) - Stryker Corp. (SYK) announced a definitive agreement to acquire assets of Small Bone Innovations, Inc. in an all cash transaction for up to $375 million. The net cost to the company after taking into account the present value of the tax benefits as a result of the asset purchase structure will be up to $285 million. Upon closing, the transaction is expected to be $0.02 dilutive to Stryker's 2014 earnings per share excluding acquisition, integration-related and intangible amortization charges. The transaction is expected to close in the third quarter of 2014.

Small Bone Innovations is a privately held business headquartered in Morrisville, Pennsylvania with facilities in France and Germany. SBi products are designed and promoted for upper and lower extremity small bone indications, with a focus on small joint replacement.

The company noted that the assets to be acquired include the Scandinavian Total Ankle Replacement System (STAR Ankle). The STAR Ankle, sold globally in over 40 countries, is the only PMA approved, cementless, three-piece total ankle replacement system and is the most published total ankle replacement product in the world, Stryker said.