Stryker closes Muka Metal buyout

Stryker (NYSE:SYK) said today it closed its purchase of Turkish hospital bed and stretcher maker Muka Metal for an undisclosed amount.

Kayseri, Turkey-based Muka began producing hospital beds in 2004, and has expanded into patient handling equipment, stretchers and hospital furniture. The company, founded in 1966, developed the 1st wireless nurse calling system, and exports to 60 countries across the U.S. It also makes non-medical products, including office furniture and household electrical appliances.

The deal was officially announced in July, with Stryker commenting that the “acquisition of Muka aligns with our strategy to expand our global presence through existing channels with an established brand.”

Stryker will use the purchase to bolster its offerings of beds and stretchers, as well as helping to drive growth in Turkey and other regions.

The Kalamazoo, Mich.-based company said the transaction is expected to be neutral in terms of the company’s 2015 earnings per share excluding acquisitions, according to a press release.

The post Stryker closes Muka Metal buyout appeared first on MassDevice.

from MassDevice http://ift.tt/1UkuPOB