M&A Deal Summary

Stryker Acquires Novadaq Technologies

On June 19, 2017, Stryker Corp. acquired medical products company Novadaq Technologies, Inc. for 701M USD

Acquisition Highlights
  • This is Stryker’s 20th transaction in the Medical Products sector.
  • This is Stryker’s 7th largest (disclosed) transaction.
  • This is Stryker’s 2nd transaction in Canada.
  • This is Stryker’s 2nd transaction in Ontario.

M&A Deal Summary

Date 2017-06-19
Target Novadaq Technologies, Inc.
Sector Medical Products
Buyer(s) Stryker Corp.
Deal Type Add-on Acquisition
Deal Value 701M USD
Advisor(s) Piper Jaffray Companies
Perella Weinberg Partners (Financial)
Stikeman Elliott LLP
Dechert LLP (Legal)

Target

Novadaq Technologies, Inc.

Mississauga, Ontario, Canada
website
Novadaq Technologies, Inc. is a developer and provider of clinically relevant fluorescence imaging solutions for use in surgical and diagnostic procedures. Novadaq Technologies was founded in 2000 and isbased in Mississauga, Ontario.

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Buyer(S) 1

Buyer

Stryker Corp.

Kalamazoo, Michigan, United States

website


Category Company
Founded 1941
SectorMedical Products
Employees36,000
Revenue 14.4B USD (2020)
DESCRIPTION
Entrance to Stryker's corporate headquarters in Kalamazoo, Michigan.
Entrance to Stryker's corporate headquarters in Kalamazoo, Michigan.

Stryker is a medical technology company. Stryker's products include implants used in joint replacement and trauma surgeries; surgical equipment and surgical navigation systems; endoscopic and communications systems; patient handling and emergency medical equipment; neurosurgical, neurovascular and spinal devices; as well as other medical device products used in a variety of medical specialties. Stryker was formed in 1941 and is based in Kalamazoo, Michigan.


DEAL STATS #
Overall 30 of 40
Sector (Medical Products) 20 of 30
Type (Add-on Acquisition) 24 of 34
State (Ontario) 2 of 2
Country (Canada) 2 of 3
Year (2017) 2 of 4
Size (of disclosed) 7 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-19 Cactus LLC

Charleston, South Carolina, United States

Cactus LLC is a manufacturer of the Smart Sink, Pharma Lock and Pharma Lock O.R. controlled substance waste management systems. Cactus LLC was founded in 2005 and is based in Charleston, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-24 Vexim SA

Balma, France

Vexim SA is a medical device company, designs and markets minimally invasive solutions for the treatment of traumatic spinal pathologies. Company specializes in the development and sale of vertebral compression fracture (VCF) solutions. The company’s flagship product is the SpineJack® system, a mechanical expandable VCF implant for fracture reduction and stabilization. The VEXIM portfolio is highly complementary to the Interventional Spine (IVS) business of Stryker’s Instruments division whose key products include an extensive and innovative portfolio for vertebral augmentation, vertebroplasty and radiofrequency ablation procedures, along with a diagnostic tool and decompression treatment advances for contained disc herniations.

Buy €162M