Stryker Corp. is purchasing surgical device maker Invuity for $190 million.
Here are four notes:
1. Stryker agreed to acquire all of Invuity's outstanding shares for $7.40 per share, for a total of about $190 million. Stryker plans to finance the transaction using cash.
2. After the acquisition closes, a Stryker subsidiary will merge with and into Invuity, and Invuity will be taken private. Invuity's board of directors approved the transaction.
3. The transaction is expected to close in the fourth quarter, subject to customary conditions and regulatory approvals.
4. Invuity develops advanced surgical devices to enhance visualization.
"The combination of Stryker's established leadership in minimal access surgery paired with Invuity's suite of enabling visualization and surgical devices should facilitate better patient outcomes and operating room efficiencies in women's health, general surgery, electrophysiology and orthopedics," said Scott Flora, Invuity's Interim CEO.