Stryker Corporation entered into a definitive agreement to acquire Mobius Imaging, LLC and GYS Tech, LLC from Launchpad Venture Group, LLC and others for $500 million.
September 03, 2019
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Stryker Corporation (NYSE:SYK) entered into a definitive agreement to acquire Mobius Imaging, LLC and GYS Tech, LLC from Launchpad Venture Group, LLC and others for $500 million on September 4, 2019. Total consideration consists of approximately $370 million in cash upfront and up to $130 million of contingent payments associated with development and commercial milestones. The transaction is subject to customary closing conditions, including expiration of the applicable waiting period under the HSR Act and is expected to close in the fourth quarter of 2019. The transaction is expected to have an immaterial impact to Stryker's net earnings in 2019. Paul Nozick of Alston & Bird LLP acted as legal advisor to Mobius. Andrew Ment, Pamela Forrest and Scott Naturman of Covington & Burling LLP acted as legal advisor to Stryker. Barclays PLC acted as financial advisor to Mobius Imaging, LLC.
Stryker Corporation is one of the world's leaders in designing, manufacturing, and selling orthopedic equipments. Net sales break down by family of products as follows:
- surgical equipments and neurotechnology products (57.5%): electric motorized surgical instruments, surgical navigation systems, endoscopy equipment, digital imaging systems, neurosurgery equipments, neurovascular devices, etc. The group also offers hospital beds, gurneys, stretchers, and emergency room equipment;
- orthopedic implants (42.5%): joint prostheses, traumatology implants, micro-implants, orthopedic cement, orthobiology products, etc. The group also provides spinal implants.
At the end of 2022, the group had 48 production sites worldwide.
Net sales are distributed geographically as follows: the United States (73.9%), Europe/Middle East/Africa (12.7%), Asia/Pacific (10.2%) and other (3.2%).
Stryker Corporation entered into a definitive agreement to acquire Mobius Imaging, LLC and GYS Tech, LLC from Launchpad Venture Group, LLC and others for $500 million.
STRYKER CORPORATION 
