KALAMAZOO, Mich., Aug. 16 /PRNewswire/ -- Stryker Corporation (NYSE: SYK)
announced that it has completed the acquisition of Image Guided Technologies,
Inc., a developer and manufacturer of optical localizers for both medical and
industrial applications.
Under the terms of the merger agreement, each outstanding share of IGT
common stock will be converted into 0.049470 of a share of Stryker common
stock (an aggregate of 265,029 Stryker shares).
The IGT optical localizer is a series of infrared cameras that compute the
position and orientation of a point or object in 3-dimensional space. IGT
manufactures the localizer component of Stryker's recently released Surgical
Navigation System. The Stryker Surgical Navigation System utilizes
information from pre-operative CT or MR images to track the movement of
surgical instruments and enable surgeons to find or avoid critical anatomical
landmarks.
Stryker develops, manufactures and markets specialty surgical and medical
products, including orthopaedic reconstructive, trauma, spinal and
craniomaxillofacial implants, powered surgical instruments, endoscopic
systems, patient care and handling equipment for the global market, and
provides outpatient physical therapy services in the United States.
This news release contains forward-looking statements based on current
expectations, forecasts and assumptions that involve risks and uncertainties
that could cause actual outcomes and results to differ materially. These
risks and uncertainties include price and product competition, dependence on
new product development, customer demand for products and services, general
industry and market conditions, growth rates and general domestic and
international economic conditions, including currency exchange rate
fluctuations.
SOURCE Stryker Corporation
Web site: http: //www.strykercorp.com
CONTACT: David J. Simpson, Vice President, Chief Financial Officer and Secretary of Stryker Corporation, 616-385-2600