Stryker buys Gaymar Industries for $150 million
Medical device maker Stryker Corp. said Wednesday it agreed to buy privately held Gaymar Industries for $150 million in cash.
The boards of both companies have approved the sale, which is expected to close by Oct. 1.
Stryker, which makes hip and knee implants and other orthopedic devices and surgical equipment, said the deal was expected to have no impact in Stryker's 2010 and 2011 earnings per share but to increase earnings in later years.
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