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Stryker to acquire Concentric Medical
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Stryker Corporation has signed a definitive agreement to acquire Concentric Medical, a manufacturer and marketer of endovascular devices for revascularizing stroke patients. The $135 million acquision, pending regulatory approvals, is expected to take effect early in the fourth quarter.
“We believe Stryker is the ideal strategic partner for Concentric and combining Concentric with Stryker’s Neurovascular division will provide opportunities to accelerate the development of technology and clinical evidence and will allow the commercial expansion of Concentric’s ischemic stroke therapy globally,” Maria Sainz, preseident and chief executive officer of Concentric Medical stated in a company press release. “Our team is excited to be joining the Stryker organization.”
Concentric Medical specializes in devices that remove blood clots causing ischemic stroke and has devices in more than 500 stroke centers around the world.