- Stryker (NYSE: SYK) announced it is buying Vocera Communications, Inc. (NYSE: VCRA) for approximately $3.09 billion. These are the details.
Stryker (NYSE: SYK) announced a definitive merger agreement to acquire all of the issued and outstanding shares of common stock of Vocera Communications, Inc. (NYSE: VCRA) for $79.25 per share, or a total equity value of approximately $2.97 billion and a total enterprise value of approximately $3.09 billion (including convertible notes). Vocera, which was founded in 2000, has emerged as a leading platform in the digital care coordination and communication category. The importance of this growing segment has continued to expand throughout the pandemic as it aims to reduce cognitive overload for caregivers and enables them to deliver the best patient care possible.
Vocera is expected to bring a highly complementary and innovative portfolio to Stryker’s Medical division that will address the increasing need for hospitals to connect caregivers and disparate data-generating medical devices — which will help drive efficiencies and improve safety and outcomes. Plus Vocera’s highly developed software competency, unique and innovative hardware solutions, and the ability to securely enable remote communication between patients and their families, complements Stryker’s Advanced Digital Healthcare offerings. And the combined business will further advance Stryker’s focus on preventing adverse events throughout the continuum of care.
Under the terms of the merger, Stryker will commence a tender offer for all outstanding shares of the common stock of Vocera for $79.25 per share in cash. And the boards of directors of both Stryker and Vocera have unanimously approved the transaction.
The acquisition is expected to close in the first quarter of 2022 and is expected to have a neutral impact on net earnings per diluted share in 2022.
KEY QUOTES:
“This acquisition underscores our commitment and focus on our customer. Vocera will help Stryker significantly accelerate our digital aspirations to improve the lives of caregivers and patients.”
— Kevin Lobo, Chair and Chief Executive Officer, Stryker
“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,”
— Brent Lang, Chairman and Chief Executive Officer, Vocera
