Medical supplier acquires hospital bed maker
A medical device supplier has acquired a maker of low-height hospital beds.
Kalamazoo-based Stryker Corporation said yesterday that it has entered into an "asset acquisition" deal with privately held CHG Hospital Beds in London, Ontario in an all-cash transaction.
Terms of the deal were not disclosed.
The transaction is expected to be neutral to Stryker's 2015 earnings per share, excluding acquisition, integration related and intangible amortization charges and accretive thereafter.
The acquisition “aligns with Stryker’s commitment to offering products that enhance the quality of care for both patients and health care professionals,” said Timothy Scannell, group president of MedSurg and Neurotechnology, Stryker.
Beds by CHG, founded in 2003, allow a patient's feet to sit flat on the floor while they're sitting at the edge of the bed. The low-height design helps reduce the risk of patient falls related to entering and exiting hospital beds.
CHG Hospital Beds holds eight hospital bed patents.
The company developed the first acute care low bed in 2003. It recently launched the Spirit One bed, which is an expandable, low-height bariatric bed for the acute care segment.
CHG serves markets across Canada, the U.S. and the U.K.