Stryker Buys Medical Device Firm Ascent For $525M

Law360, New York (December 1, 2009, 4:17 PM EST) -- Health care technology firm Stryker Corp. announced Tuesday it had acquired medical device manufacturer Ascent Healthcare Solutions, a company owned by RoundTable Healthcare Partners, for $525 million in cash.

Boards of directors at Stryker and Ascent have approved the transaction, but the closing is conditioned on the expiration of certain waiting periods under the federal Hart-Scott-Rodino Antitrust Improvements Act, Stryker said in a statement.

Ascent said in a separate statement that it will distribute an additional $35 million in cash from its balance sheet to shareholders,...
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