Stryker said it closed the buyout of SBi’s North American assets and expects to close on its French and German assets once regulatory authorities there OK the deal.
Stryker agreed in June to pay roughly $375 million for Morrisville, Pa.-based SBi’s total ankle replacement system, plus finger, wrist and elbow products. The net cost to Stryker is slated to be roughly $285 million "after taking into account the present value of the tax benefits as a result of the asset purchase structure," the company said at the time.
SBi’s Scandinavian Total Ankle Replacement system is the only FDA-approved, cementless, 3-piece total ankle replacement device.
Stryker has said the acquisition is expected to dilute its adjusted earnings per share by about 2¢ this year.