Stryker has agreed to pay $1.28 billion in an all-cash deal to Bain Capital for automated external defibrillator maker Physio-Control, which was previously sold to Bain by Medtronic for $478 million.
Though it’s not currently finalized, the deal is expected to close by the beginning of the Q2.
Washington-based Physio-Control will be integrated into Stryker’s emergency medical systems portfolio, the company said, according to Mass Device. Physio-Control first introduced its direct current defibrillator more than 55 years ago.
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The company has multiple devices, mostly centered around its LIFEPAK technology, which include those to be used pre-hospital by first responders, at the hospital and some designed for military use.
Here’s a demonstration video (from when Medtronic still owned Physio-Control).