Medical company acquiring manufacturer
A medical company in the region is acquiring a maker of surgical smoke-evacuation equipment.
Kalamazoo-based Stryker, a maker of medical devices and equipment, said this week it signed a definitive agreement to acquire Root, Switzerland-based SafeAir AG.
SafeAir designs, develops and manufactures surgical smoke-evacuation products that help reduce staff and patient exposure to hazards associated with surgical smoke.
Terms of the deal were not disclosed.
“The acquisition of SafeAir AG is highly complementary to the surgical business of Stryker’s instruments division and strengthens our smoke-evacuation portfolio in both the U.S. and Europe,” said Timothy Scannell, group president of medical surgical and neurotechnology, Stryker.
“This acquisition aligns with Stryker’s focus of providing solutions that result in a higher quality of care and level of safety for both health care professionals and patients.”
The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2018.
Stryker offers a diverse array of medical products and services that “help improve patient and hospital outcomes.”
Its products are used in more than 100 countries around the world.
The company reported 2017 revenue of about $12.4 billion.