Stryker Corporation to Acquire NOVADAQ

Stryker Corporation (Kalamazoo, MI, USA), a medical devices and equipment manufacturing firm, has entered into a definitive agreement to acquire NOVADAQ Technologies Inc., (Mississauga, Canada), a provider of fluorescence imaging solutions for minimally invasive and open surgeries.

Stryker offers a diverse array of innovative products and services in orthopedics, medical and surgical, and neurotechnology and spine that help improve patient and hospital outcomes. 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.

“This acquisition aligns with Stryker's focus on enabling our customers to see and do more by enhancing cross-specialty surgical visualization,” said Timothy J. Scannell, Group President, MedSurg and NeuroTechnology. “NOVADAQ’S unique innovative technology complements Stryker's advanced imaging portfolio and expands our product offerings into open and plastic reconstructive surgery. NOVADAQ’S innovative technology can reduce post-procedure complication rates and the cost of care for a broad variety of surgical treatments.”

“This transformative transaction recognizes the exceptional value we have built at NOVADAQ. Moreover, we believe it creates a strong opportunity for NOVADAQ, its customers, partners, shareholders, and employees,” said Rick Mangat, President and Chief Executive Officer of NOVADAQ. “I am proud of the impact our SPY and PINPOINT technology has made throughout the world in breast reconstruction and colorectal surgery, as well as other minimally invasive applications, and look forward to the additional progress we can make as part of Stryker's organization.”