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Stryker to buy Entellus Medical for $662 mln
December 7, 2017 / 1:32 PM / 9 days ago

Stryker to buy Entellus Medical for $662 mln

Dec 7 (Reuters) - Medical device maker Stryker Corp said on Thursday it would buy medical technology company Entellus Medical Inc in a deal valued at about $662 million, adding heft to its ENT business.

Stryker would pay $24 per Entellus share, a premium of about 50 percent to Entellus’s Wednesday close.

The deal to expected to be dilutive to Stryker’s 2018 adjusted net earnings per share by about 4 cents, but accretive thereafter, the company said. (Reporting by Divya Grover in Bengaluru; Editing by Shounak Dasgupta)

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