Add-on Acquisition • Medical Products

Stryker Acquires Novadaq Technologies

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

Acquisition Context
  • This is Stryker’s 20th transaction in the Medical Products sector.
  • This is Stryker’s 9th largest (disclosed) transaction.
  • This is Stryker’s 2nd transaction in Canada.
  • This is Stryker’s 2nd transaction in Ontario.

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M&A Deal Summary

Date June 19, 2017
Target Novadaq Technologies
Sector Medical Products
Buyer(s) Stryker
Deal Type Add-on Acquisition
Deal Value 701M USD
Advisor(s) Perella Weinberg Partners
Piper Sandler & Co. (Financial)
Stikeman Elliott
Dechert (Legal)

Target Company

Novadaq Technologies

Mississauga, Ontario, Canada
Novadaq Technologies 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 is based in Mississauga, Ontario.
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Buyer Overview 1

Buyer

Stryker

Portage, Michigan, United States

Category Company
Founded 1941
Sector Medical Products
Employees52,000
Revenue 22.6B USD (2024)
DESCRIPTION
Stryker's headquarters in Portage, Michigan.
Stryker's headquarters in Portage, Michigan.

Stryker is a medical technology company that offers innovative products and services in MedSurg, Neurotechnology and Orthopaedics including implants, surgical equipment, and surgical navigation systems, endoscopic and communications systems, patient handling and emergency medical equipment, neurosurgical, neurovascular and spinal devices. Stryker was founded in 1941 and is based in Portage, Michigan.


Deal Context for Buyer #
Overall 30 of 49
Sector: Medical Products 20 of 36
Type: Add-on Acquisition 24 of 43
State: Ontario 2 of 2
Country: Canada 2 of 3
Year: 2017 2 of 4
Size (of disclosed) 9 of 24
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-19 Cactus

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