Stryker Corporation acquires sterilisation tech company for $52m

A subsidiary of Stryker has acquired all shares of Canada-based sterilisation company TSO3

Photo as seen on company website

TSO3, an innovator in low-temperature sterilisation technology for medical devices, has been acquired by a subsidiary of Stryker Corporation. The subsidiary will acquire all of the issued and outstanding common shares of the company. This represents a total enterprise value of approximately C$68.4 million (approximately US$51.7 million), including existing indebtedness.

Stryker is a medical technologies firm based in Michigan, US. Most of Stryker's products are marketed directly to doctors, hospitals and other healthcare facilities. Internationally, Stryker products are sold in over 100 countries through company-owned sales subsidiaries and branches as well as third-party dealers and distributors.

R.M. (Ric) Rumble, President and CEO of TSO3, said that the acquisition will provide the expertise and the financial resources to best help TSO3 achieve its full potential.

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