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Stryker to buy firm to expand in China
Source: Bloomberg News |
January 18, 2013, Friday
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STRYKER Corp, a manufacturer of specialty surgical and medical products, has offered to buy Trauson Holdings Co for US$764 million in cash to expand in the Chinese orthopedic market.
"The acquisition of Trauson is a critical step toward broadening our presence in China and developing a value segment platform for the emerging markets through a well-established brand," Stryker CEO Kevin A. Lobo said in a statement yesterday.
Stryker and Trauson have had a relationship under a manufacturing agreement for instrumentation sets since 2007, Michigan-based Stryker said. Trauson is China's largest maker of pelvic reconstruction plates and other products used in trauma surgery. Orthopedic implant sales in China will almost double to US$2.7 billion by 2015, vaulting the country past Japan as the biggest market after the US, according to Frost & Sullivan, a market research firm.
"In a highly fragmented Chinese market, Trauson is the largest distributor of trauma products and the No. 3 distributor in spine," Michael Weinstein, an analyst at JPMorgan Chase & Co in New York, said in a note yesterday. "To give a quick financial snapshot, Trauson is highly profitable with gross margins in the high 60 percent range."
"The acquisition of Trauson is a critical step toward broadening our presence in China and developing a value segment platform for the emerging markets through a well-established brand," Stryker CEO Kevin A. Lobo said in a statement yesterday.
Stryker and Trauson have had a relationship under a manufacturing agreement for instrumentation sets since 2007, Michigan-based Stryker said. Trauson is China's largest maker of pelvic reconstruction plates and other products used in trauma surgery. Orthopedic implant sales in China will almost double to US$2.7 billion by 2015, vaulting the country past Japan as the biggest market after the US, according to Frost & Sullivan, a market research firm.
"In a highly fragmented Chinese market, Trauson is the largest distributor of trauma products and the No. 3 distributor in spine," Michael Weinstein, an analyst at JPMorgan Chase & Co in New York, said in a note yesterday. "To give a quick financial snapshot, Trauson is highly profitable with gross margins in the high 60 percent range."
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