For Immediate Release
Chicago, IL – November 13, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Stryker Corp. (SYK), Synergetics USA, Inc. (SURG), Zimmer Holdings (ZMH), Conmed Corporation (CNMD) and Smith & Nephew (SNN).
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Here are highlights from Thursday’s Analyst Blog:
Stryker Strikes Acquisition Deals
Stryker Corp. (SYK) is on a takeover spree having made three acquisitions recently. The company acquired OtisMed Corp., Mutoh Co. Ltd. and certain of its affiliates, and Synergetics USA, Inc. (SURG). Financial terms of these transactions include $67 million in upfront payment as well as potential future milestone and royalty payments of up to $36 million. These acquisitions are expected to be completed by the end of 2009.
OtisMed Corp. is a privately held software technology firm that focuses on customizable instrumentation complementing Stryker’s Triathlon Knee System, as well as other Stryker implants. Stryker will incorporate OtisMed as part of its Orthopaedics division.
Mutoh Co. Ltd. is a Japanese company and a leading provider of equipment, products, instruments and services to the medical and scientific communities. On the other hand, Synergetics USA, Inc. is a leading supplier of precision microsurgery instrumentation.
Mutoh and Synergetics acquisitions give Stryker access to different assets used to produce Sonopet Ultrasonic Aspirator control consoles, hand pieces and accessories as well as the rights to market and sell these products globally. Post the completion of the acquisition, Stryker will incorporate these two companies into its Instruments division.
The acquisitions widen Stryker’s product portfolio and will boost its top-line. Stryker is one of the world’s largest medical device companies operating in the global orthopedic market. In the orthopedic space, Stryker faces competition from major players like Zimmer Holdings (ZMH), Conmed Corporation (CNMD) and Smith & Nephew (SNN).
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