Stryker Corp. has announced it will acquire Surpass Medical in a cash transaction for $100 million and up to an additional $35 million of milestone payments, according to a news release.
Surpass, which is headquartered in Tel Aviv, Israel, with manufacturing and R&D in Miramar, Fla., develops flow diversion stent technology to treat brain aneurysms using a mesh design and delivery system. Its key product is the CE-marked NeuroEndoGraft family of flow diverters.
"The acquisition of Surpass Medical further builds on Stryker's global platform in the fast growing and highly innovative neurovascular market and helps broaden our offering in complete stroke care," said Kevin A. Lobo, president and CEO of Stryker, in the release. "We remain committed to furthering care in the interventional neurovascular space by offering patients and caregivers differentiated products that improve outcomes and help save lives."
The transaction is expected to close in the fourth quarter of 2012.
Stryker is headquartered in Kalamazoo, Mich.
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