Stryker acquires Porex Surgical

Stryker Corporation (NYSE: SYK) announced today the acquisition of privately-held Porex Surgical, a division of Porex Corporation. Porex Surgical is a developer, manufacturer and distributor of bioimplantable porous polyethylene products (PPE) for use primarily in reconstructive surgery of the head and face. Porex has a long history in the PPE market with strong brand recognition and considerable clinical data supported by approximately 350 references in peer-reviewed journals. The product portfolio and customer base complements Stryker's existing offering in the craniomaxillofacial (CMF) market.

"The acquisition of Porex Surgical further expands on our presence in the CMF market and allows us to broaden our product offering to both patients and clinicians," said Stephen P. MacMillan, Chairman, President and Chief Executive Officer of Stryker.

The transaction is expected to be neutral to Stryker's 2010 and 2011 earnings per share and accretive thereafter. Terms of the transaction were not disclosed.

SOURCE Stryker Corporation