Stryker completes Sightline acquisition

Stryker, the medical device company, has announced that it has completed the acquisition of Sightline Technologies, the private development stage company based in Israel.

An initial payment of $50 million in cash will be followed by potential milestone payments totalling $90 million.

“Stryker is a leader in the rigid endoscopy market,” said Bill Enquist, president of Stryker Global Endoscopy.

“This acquisition allows us to apply our core competencies in visualisation technology and sales and marketing to the flexible endoscopy market. Additionally, Sightline will potentially open up new markets for our communications and video accessories businesses.”

A representative of Sightline said that its products would enable Stryker to “continue to set the bar” through the products it offers to the industry in the endoscopy field.

It is estimated that the transaction will result in a first quarter 2006 after-tax charge of $53 million for Stryker, or $0.13 per diluted share.

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