Stryker Announces Acquisition of PlasmaSol Corporation
BY JOHN CHOPACK, JANUARY 4, 2006
On Tuesday, Stryker announced that it had acquired PlasmaSol Corporation on December 30, 2005 for approximately $17.5 million in an upfront payment and the assumption of certain liabilities. Stryker stated that the transaction will result in a 4Q:05 charge of $16 million, or $0.04 per diluted share.
PlasmaSol is a development stage company with a sterilization technology which would allow Stryker to sterilize some of its MedSurg Equipment products.
Hopefully, Stryker's announcement of its acquisition of PlasmaSol is an indication of a pick-up in orthopedic M&A activity in 2006 after a relatively quiet 2005.
In other news, Stryker, along with Zimmer and Biomet, were named to Forbes' list of "Best Big Companies in America".
