BY Richard Summerfield
Medical device manufacturer Stryker Corp has agreed to acquire Vocera Communications in a deal worth $2.97bn. The deal is expected to close in the first quarter of this year and is estimated to have a neutral impact on net earnings per diluted share in 2022, Stryker said in a statement.
Under the terms of the deal, Stryker will pay $79.25 per share for the company, for a total equity value of approximately $2.97bn and a total enterprise value of approximately $3.09bn including convertible notes. The boards of both Stryker and Vocera have unanimously approved the acquisition.
Vocera specialises in communication and workflow platforms, as well as software for healthcare providers such as hospitals, allowing for internal and patient-to-doctor communications to improve patient data sharing. The company also makes smart wearable devices for healthcare professionals as well as smartphone applications.
“This acquisition underscores our commitment and focus on our customer,” said Kevin Lobo, chair and chief executive of Stryker. “Vocera will help Stryker significantly accelerate our digital aspirations to improve the lives of caregivers and patients.”
“Today’s milestone represents an exciting opportunity for Vocera given the clear alignment of mission, goals and culture between our two organizations and our ability to drive even greater economic and clinical value for our customers,” said Brent Lang, chairman and chief executive of Vocera.
Stryker officials are said to have been attracted to Vocera’s “highly complementary and innovative portfolio” of tools to help connect caregivers and “disparate data-generating medical devices”, with an eye toward boosting patient safety and outcomes and improving provider workflows.
Specifically, Vocera’s software and hardware for remote communication complements Stryker’s Advanced Digital Healthcare tools, the company said, and will improve its efforts to help its customers reduce and prevent adverse events across the care continuum.
The deal is the latest in a number of significant multibillion health IT acquisitions. Other deals announced so far this year include Castlight Health’s merger with Vera Whole Health and Aetion’s acquisition of Replica Analytics.
News: Medical device maker Stryker to buy Vocera Communications for $2.97 bln