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Stryker Announces Definitive Agreement to Acquire Berchtold Holding, AG


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Kalamazoo, Michigan - February 18, 2014 - Stryker Corporation (NYSE:SYK) announced today a definitive agreement to acquire Berchtold Holding, AG (Berchtold) for an enterprise value of $172 million. Berchtold, a privately held business with operating facilities in Germany and the United States, sells world-class surgical infrastructure equipment.  

Berchtold has been providing customer-centric healthcare equipment for over 90 years with sales in 2013 of approximately $125 million. Their product portfolio includes surgical tables, equipment booms, and surgical lighting systems geared towards maximizing efficiency and safety in operating rooms and ICUs. Combining these complementary solutions with Stryker Endoscopy's existing operating room equipment portfolio will create a comprehensive, quality-focused offering equipped to satisfy a wide range of customer needs around the globe.

"We are committed to offering innovative, best-in-class operating room infrastructure equipment," said Timothy J. Scannell, Group President, MedSurg and Neurotechnology. "This acquisition delivers on that commitment by strengthening our portfolio and allowing us to address rapidly evolving customer requirements for operating room design."

The transaction is subject to customary closing conditions including the expiration or termination of the Hart-Scott-Rodino Antitrust Improvements Act waiting period. Upon closing, the transaction is expected to be neutral to Stryker's 2014 earnings per share excluding acquisition, integration-related and intangible amortization charges. The transaction is expected to close in the second quarter of 2014.

About Stryker

Stryker is one of the world's leading medical technology companies and together with our customers, we are driven to make healthcare better. 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. Stryker products and services are available in over 100 countries around the world and please contact us for more information at www.stryker.com.

Contacts

For media inquiries please contact:
Yin Becker, Stryker Corporation, 201-831-5000 or yin.becker@stryker.com

For investor inquiries please contact:
Katherine A. Owen, Stryker Corporation, 269-385-2600 or katherine.owen@stryker.com

This press release contains information that includes or is based on forward-looking statements within the meaning of the federal securities law that are subject to various risks and uncertainties that could cause our 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 our products; pricing pressures generally, including cost-containment measures that could adversely affect the price of or demand for our 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; the ultimate total cost with respect to the Rejuvenate and ABG II matter; the impact of investigative and legal proceedings and compliance risks; resolution of tax audits; the impact of the federal legislation to reform the United States healthcare system; changes in financial markets; changes in the competitive environment; our ability to integrate acquisitions, including the acquisition of MAKO Surgical Corp; and our ability to realize anticipated cost savings as a result of workforce reductions and other restructuring activities. Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.


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