|Stryker Completes Acquisition of Privately-Held Surpass Medical, Ltd.|
Kalamazoo, Michigan - November 1, 2012 - Stryker Corporation (NYSE:SYK) announced today the closing of its previously announced acquisition of privately-held Surpass Medical, Ltd. (Surpass). Surpass is developing and commercializing the NeuroEndoGraft family of next-generation flow diversion stent technology to treat brain aneurysms using a unique mesh design and delivery system.
"With the acquisition of Surpass Medical we are continuing to expand our global product portfolio in the fast growing and highly innovative neurovascular market by offering patients and caregivers differentiated products focused on Complete Stroke Care," said Kevin A. Lobo, President and Chief Executive Officer.
As indicated in the October 16, 2012 press release, the transaction is expected to be neutral to Stryker's 2012 earnings per share excluding acquisition and integration-related charges.
Stryker is one of the world's leading medical technology companies and is dedicated to helping healthcare professionals perform their jobs more efficiently while enhancing patient care. The Company offers a diverse array of innovative medical technologies, including reconstructive, medical and surgical, and neurotechnology and spine products to help people lead more active and more satisfying lives. For more information about Stryker, please visit www.stryker.com.
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This press release contains information that includes or is based on forward-looking statements that are subject to various risks and uncertainties that could cause the Company's actual results to differ materially from those expressed or implied in such statements. Such factors include, but are not limited to: weakening of economic conditions that could adversely affect the level of demand for the Company's products; pricing pressures generally, including cost-containment measures that could adversely affect the price of or demand for the Company's products; changes in foreign exchange markets; legislative and regulatory actions; unanticipated issues arising in connection with clinical studies and otherwise that affect U.S. Food and Drug Administration approval of new products; changes in reimbursement levels from third-party payors; a significant increase in product liability claims; unfavorable resolution of tax audits; changes in financial markets; changes in the competitive environment; and the Company's ability to consummate and integrate acquisitions, including the acquisition of Surpass Medical, Ltd. Additional information concerning these and other factors are contained in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.