Stryker to acquire Chinese Orthopedic Company - Trauson

Stryker Corporation  and Trauson Holdings Company Limited  announced today that Stryker will make a voluntary general offer to acquire all the shares of Trauson for HK$7.50 per ordinary share for a total consideration of $764 million in an all cash transaction, representing an enterprise value of approximately $685 million.  The acquisition gives Stryker a foothold in the Chinese market, where an ageing population and rising consumption in healthcare is driving demand for orthopedic products. Stryker and Trauson have maintained a relationship under an OEM agreement for instrumentation sets since 2007. With this acquisition, Stryker will expand its presence in a key emerging market with a product portfolio and pipeline that is targeted at the large and fast growing value segment of the Chinese orthopedic market.