Stryker acquires German company for $172M
Kalamazoo-based Stryker Corporation has signed a definitive agreement to acquire a German manufacturer of surgical equipment for an enterprise value of $172 million.
Stryker said yesterday that privately held Berchtold Holding, AG sells surgical infrastructure equipment and reported sales of $125 million in 2013.
Tuttlingen, Germany-based Berchtold has been in the medical equipment industry for more than 90 years and operates facilities in Germany and the U.S.
The transaction is expected to close in the second quarter of 2014.
The transaction is subject to customary closing conditions, including the expiration or termination of the Hart-Scott-Rodino Antitrust Improvements Act waiting period.
Upon closing, the transaction is expected to be neutral to Stryker's 2014 earnings per share, excluding acquisition, integration and intangible amortization charges.
Berchtold’s product portfolio includes surgical tables, equipment booms and surgical lighting systems geared toward maximizing efficiency and safety in operating rooms and ICUs.
The acquisition will help Stryker “address rapidly evolving customer requirements for operating room design," said Timothy J. Scannell, Stryker group president, MedSurg and Neurotechnology.