On Monday Stryker Corp. announced its intent to acquire Canada-based Novadaq Technologies, Inc. for $701 million. The definitive agreement beefs up Stryker’s product portfolio in open and plastic reconstructive surgery, and is expected to provide surgeons with improved cross-specialty surgical visualization.
Novadaq develops fluorescence imaging technology, most notably the SPY Elite, for surgeons to enable visualization of blood flow in vessels, along with tissue perfusion in cardiac, cardiovascular, gastrointestinal, microsurgical, plastic and reconstructive surgery.
The transaction, which is structured under the Canada Business Corporations act and subject to closing conditions, is expected to close at the end of Q3 2017. The net purchase price of Novadaq will be $654 million.