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Stryker Corporation  (SYK) Snags Surpass Medical for $135 Million


10/16/2012 8:41:08 AM

The Kalamazoo-based medical device maker announced Oct. 16 it is purchasing Surpass Medical, Ltd., for $135 million. Stryker will pay $100 million in cash for the privately held company, with up to $35 million in additional milestone payments. Surpass, which was founded in 2005 and based in Tel Aviv, Israel, with manufacturing and research and development in Miramar, Fla., is developing a next-generation stent technology using a mesh design and delivery system to divert blood flow. The NeuroEndGraft family of flow diverters is designed to redirect blood flow away from an aneurysm, allowing a stable clot of be formed. "The acquisition of Surpass Medical further builds on Stryker's global platform in the fast growing and highly innovative neurovascular market and helps broaden our offering in complete stroke care," said Kevin A. Lobo, president and chief executive officer, in a statement. "We remain committed to furthering care in the interventional neurovascular space by offering patients and caregivers differentiated products that improve outcomes and help save lives."

Read at Michigan Live

   

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