In a definitive agreement, Stryker (Kalamazoo, MI) will acquire Novadaq Technologies (Mississauga, ON, Canada) for $701 million. Novadaq develops fluorescence imaging technology that provides surgeons with visualization of blood flow in vessels, and related tissue perfusion in cardiac, cardiovascular, gastrointestinal, plastic, microsurgical, and reconstructive procedures.
Novadaq's technology complements Stryker's advanced imaging portfolio, and expands its product offerings into open and plastic reconstructive surgery, says Timothy J. Scannell, group president, MedSurg and NeuroTechnology at Stryker. The technology can reduce post-procedure complication rates and the cost of care for a broad variety of surgical treatments, he adds.
The transaction is expected to close at the end of the third quarter of 2017.