Stryker to Acquire Muka Metal in Cash Transaction

Stryker Corporation (Kalamazoo, MI, USA) has announced a definitive agreement to acquire Muka Metal (Kayseri, Turkey).

Stryker and Muka Metal, a leading manufacturer and marketer of hospital beds, stretchers, and related patient room furniture and accessories, have maintained a business relationship under a distribution agreement for Muka products in Latin America since 2012. The acquisition will expand Stryker’s global presence in key markets, and especially Turkey, with a product portfolio that complements and enhances the company’s current offerings. Financial details were not disclosed.

Established in 1966, Muka Metal is active in several fields, ranging from office furniture to household electrical appliances. The company began manufacturing electric hospital beds in 2004, and since then has expanded its hospital line to stretchers, patient handling equipment, and furniture. Muka Metal is among the top ten companies in the world in its field, exporting to 60 countries in Africa, the Middle East, Asia, Latin America, and Europe.

“The acquisition of Muka aligns with our strategy to expand our global presence through existing channels with an established and trusted brand,” said Timothy J. Scannell, group president of MedSurg and Neurotechnology at Stryker. “This acquisition will bolster Stryker Medical's bed and stretcher offerings, and is a compelling opportunity to drive growth in Turkey and other regions around the world.”

Stryker has been following an acquisition-driven strategy to boost growth over the last three years, resulting in a total of ten targeted deals that have greatly expanded its product portfolio. Most of the acquisitions provided product lines that are complementary to Stryker’s existing product line, much similar to the Muka deal. The company recently stated that mergers and acquisitions are its top priority for the USD 2.59 billion in ready cash on its balance sheet, with small or mid-sized deals more likely than a blockbuster like the much-speculated-upon possibility of a merger with rival Smith & Nephew (London, United Kingdom).

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