Stryker (NYSE:SYK) said today that it closed a pair of acquisitions, putting a bow on its $2.7 billion buyout of Sage Products and the deal for Synergetics‘s (NSDQ:SURG) neurostimulation assets for an undisclosed amount. The deal for Sage Products, which makes a line of disposable devices designed to reduce so-called “never events” in intensive care and surgical settings, was […]
Synergetics USA Inc.
Stryker buys Synergetics neuro assets
Stryker (NYSE:SYK) said today it agreed to acquire the entirety of Synergetics (NSDQ:SURG) neuro portfolio for an undisclosed amount. The buy puts Synergetics Malis generator, Malis disposable forceps as well as Stryker’s existing Sonopet tips and RF generator into Stryker’s portfolio, according to the Kalamazoo, Mich.-based company. “The acquisition of the Synergetics neuro portfolio is highly […]
Valeant closes $166m Synergetics buyout
Valeant Pharmaceuticals (NYSE:VRX, TSE:VRX) last week said it closed the $166 million acquisition of ophthalmic and neurosurgical device maker Synergetics. Valeant’s $6.50-per-share offer was a 48.1% premium over Synergetics stock’s closing price the day before the deal was announced last month. The buyout includes $1 per share in milestones, with a 50¢-per-share bonus tied to an annual sales […]
Synergetics jumps 53% on $166m bid from Valeant Pharmaceuticals
Ophthalmic and neurosurgical device maker Synergetics (NSDQ:SURG) said today that it agreed to a $166-million takeover bid by Valeant Pharmaceuticals (NYSE:VRX, TSE:VRX), sending SURG shares up 52.6% to $6.70 apiece in pre-market trading today. Valeant’s $6.50-per-share offer represents a 48.1% premium over Synergetics stock’s closing price yesterday of $4.39 per share and a 39.6% premium on its 3-month average. […]
Stryker reups supply deal with Synergetics
Stryker (NYSE:SYK) yesterday renewed a supply deal with ophthalmic and neurosurgical device company Synergetics (NSDQ:SURG), according to SEC filings. Through the deal, O’Fallon, Mo.-based Synergetics will supply Stryker with disposable aspirator instrument tips and other consumables for use with Stryker’s ultrasonic aspirator console and hand pieces, according to an SEC filing. “We are pleased to continue our […]
Merger & acquisition activity surges this year | The week in medtech M&A
Synergetics pays $14m for Sterimedix
Synergetics (NSDQ:SURG) said yesterday that it acquired a U.K.-based cannulae and needles maker, Sterimedix, for $13.5 million and announced lower-than-expected earnings for its fiscal 1st quarter.
Zynex CEO clears out board | Personnel Moves
Zynex (OTC:ZYXI) CEO Thomas Sandgaard has cleared the path to reshape the company after cutting its board in half.
Sandgaard asked for the resignations of board members Mats Wahlstrom, Mary Beth Vitale, Kevin Smith and Taylor Simonton, to add board members who share Sandgaard’s vision for the rehab devices maker.
Synergetics closes Penn. facility, announces layoffs amid narrowed profits
Synergetics (NSDQ:SURG) is closing a King of Prussia, Penn., manufacturing facility that employs 24 workers, transferring production to an office in O’Fallon, Miss.
Abbott’s board approves AbbVie pharma spinout | Wall Street Beat
Abbott (NYSE:ABT) said its board of directors approved the spinout of its branded pharmaceuticals business as AbbVie Inc. in which Abbott’s shareholders will receive an AbbVie share for each ABT share they own.
The distribution is slated for Jan. 1, 2013, for shareholders of record as of Dec. 12, according to a press release.
