Stryker Acquires Ascent Healthcare SolutionsStryker Acquires Ascent Healthcare Solutions

Stryker Corp. has announced a definitive agreement to acquire privately held Ascent Healthcare Solutions Inc. Ascent is a reprocessing and remanufacturing firm with two facilities in Phoenix, AZ and Lakeland, FL. Under the terms of the agreement, Stryker will acquire Ascent Healthcare Solutions for $525 million in an all-cash transaction. The transaction is expected to close by year end 2009.

December 1, 2009

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Ascent currently provides cardiovascular, orthopedics, gastroenterology, and general surgery devices to 1800 hospitals and numerous Group Purchasing Organizations in North America. It’s sales in 2008 were more than $100 million.

The closing is conditioned on the expiration or termination of all applicable waiting periods pursuant to the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. Each companies’ board of directors and shareholders have approved the transaction.

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