Entellus Medical (NSDQ:ENTL) said today it closed its $664 million sale to Stryker (NYSE:SYK), becoming a wholly owned subsidiary of the Kalamazoo, Mich.-based medtech firm.
Plymouth, Minn.-based Entellus, founded in 2006, makes a family of minimally invasive balloon device products, including its flagship Xpress device, that are designed to treat blocked sinuses. Earlier this year it closed the $81 million buyout of Spirox and its Latera absorbable nasal implant.
In the deal, Stryker paid $24 per share for each share of Entellus, paying an approximate $664 million for the company.
As part of the completed merger, Entellus terminated a loan agreement with Oxford Finance, paying a fee of approximately $1.2 million with the early termination of the agreement, the company said in an SEC filing.
Earlier this month, Stryker said it won expanded FDA indications for its Trevo thrombectomy device, now cleared as a front-line treatment for acute ischemic stroke patients for up to 24 hours from symptom onset
