One of the leading medical technology companies, Stryker Corporation, is acquiring orthopedic device manufacturer Trauson Holdings Co. for $764 million to develop its industry in China, media reports say. The Stryker Rejuvenate hip replacement recall faced by the medical equipment giant has not stopped them from expanding their company globally.
Trauson Holdings was established in December 2002 by its chairman and chief executive officer, Mr.Qian Fuqing, who is one of the pioneers in China’s orthopedic industry. The company’s 2011 sales were almost $60 million.
“With its research and development expertise, manufacturing capabilities and strength of its distribution network, Trauson is a compelling opportunity for Stryker to drive growth in China and other emerging markets for years to come,” says Kevin Lobo, Stryker President and CEO.
Trauson’s largest shareholder, the Luna Group, has settled to grant 61.7 percent of the Trauson shares toward the offer, according to Stryker. The transaction is scheduled to close by the end of the second quarter of 2013.
Stryker reported last week its fourth-quarter and full-year revenue that exceeded Wall Street’s presumptions. The Kalamazoo, Michigan-based company also escalated the low end of its full-year-attuned income prediction to some extent and gave a 2013 revenue standpoint above market analysts’ appraisals.