Stryker enters agreement to acquire Invuity

Stryker announced a definitive agreement to acquire all issued and outstanding shares of common stock of Invuity Inc. for $7.40 per share, or approximately $190 million in total equity value, according to a company press release.

“Invuity’s innovative products in the single-use lighted instrumentation and enhanced energy markets provide best in class illumination and help make surgery safer” Spencer S. Stiles, group president of neurotechnology, instruments and spine, said in the release. “I look forward to the work we will do together to advance Stryker’s mission of making health care better.”

Under terms of agreement, Stryker will initiate a tender offer for all outstanding shares of common stock of Invuity for $7.40 per share, in cash. The board of directors for both Stryker and Invuity have approved the transaction. The transaction closing is reportedly subject to either the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. The closing of the transaction is expected to occur in the fourth quarter of 2018 and is to have an immaterial impact on 2018 net earnings.

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