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Stryker Doubles Down On Novadaq To Boost Medsurg

 
• By Catherine Longworth

Stryker is set to expand its surgical offerings after signing a $701m deal to buy Novadaq Technologies, a leading developer of fluorescence surgical imaging technology. The acquisition price is a 96% premium over Novadaq's June 16 closing price, which, according to analysts, is believed to be due to a competitive bidding process for the company.

Stryker Corp. is snapping up Canadian imaging firm Novadaq Technologies Inc.for $701min a deal that should further strengthen the company's biggest and fastest-growing medical and surgical business, Medsurg.

Under the terms of the agreement, Stryker will pay $11.75 per share, nearly double Novadaq's closing share price of $6 on June 16, the last trading day before the news...

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