Stryker announces acquisition of Ascent Healthcare Solutions

Stryker Corporation has announced a definitive agreement to acquire privately held Ascent Healthcare Solutions, Inc., a reprocessor and remanufacturer of medical devices in the United States.

Stryker will acquire Ascent for $525 million, according to a report from the company’s Web site. The transaction has been approved by the board of directors for both companies, as well as the Ascent shareholders.

“The acquisition of Ascent Healthcare Solutions with its talented team will enhance our value proposition to hospitals and healthcare providers,” Stryker Chief Executive Officer Stephen P. MacMillan stated in a release. “Reprocessing and remanufacturing is one of the most impactful programs in use at hospitals, allowing for significant costs savings to the healthcare system.”

MacMillan also stated in the release that Ascent’s programs will allow partner hospitals to “divert thousands of pounds of medical waste from landfills while simultaneously redirecting substantial financial resources to patient care quality initiatives.”

The business will become a division of Stryker operating under the MedSurg group of businesses, and will continue to be known as Ascent Healthcare Solutions.

The transaction is expected to close by the end of the year.

Ascent Healthcare Solutions was formed through the 2005 merger of Vanguard Medical Concepts and Alliance Medical Corporation.