Stryker (SYK) Completes Acquisition of BD's (BDX) CareFusion VCF Portfolio

April 21, 2016 8:06 AM EDT

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Stryker Corporation (NYSE: SYK) announced today it has completed the acquisition of the CareFusion vertebral compression fracture (VCF) portfolio of products from BD (Becton, Dickinson and Company) (NYSE: BDX) in an all cash transaction. The portfolio is comprised of minimally-invasive systems used in vertebroplasty and vertebral augmentation procedures. BD acquired these assets as a part of CareFusion's portfolio in March of 2015.

"The acquisition of BD's VCF portfolio is highly complementary to Stryker Instruments' Interventional Spine (IVS) business and is aligned with IVS's strategy of expanding its VCF footprint," stated Timothy J. Scannell, Group President, MedSurg and Neurotechnology. "It also further strengthens Stryker's brand in the Neurotechnology space."

With this acquisition, Stryker can provide its customers a comprehensive product portfolio containing some of the least minimally invasive vertebral compression fracture treatment options available today and expand its presence in key markets with products that complement and enhance Stryker's current offerings.

The transaction is expected to be neutral to Stryker's 2016 adjusted net earnings per diluted share and accretive thereafter.

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