Stryker Acquires Medical Devices Remanufacturing Firm

Stryker Corporation (NYSE: SYK) today announced the closing of its previously announced acquisition of Ascent Healthcare Solutions, the market leader in the reprocessing and remanufacturing of medical devices in the U.S.

"The acquisition of Ascent Healthcare Solutions will enhance our value proposition by offering our customers one of the most impactful programs in use at hospitals, allowing for significant costs savings to the healthcare system," said Stephen P. MacMillan, Stryker's Chief Executive Officer. "With Ascent as part of Stryker, we will also help divert thousands of pounds of medical waste from landfills while simultaneously redirecting substantial financial resources to patient care quality initiatives."

As indicated in the November 30, 2009 press release, Ascent will become a division of Stryker operating under the MedSurg group of businesses and will continue to be known as Ascent Healthcare Solutions. The transaction is expected to be neutral to Stryker's 2010 earnings per share and accretive thereafter.