October 15, 2012

Stryker to Acquire Surpass Medical

October 16, 2012—Stryker Corporation (Kalamazoo, MI) announced a definitive agreement to acquire Surpass Medical, Ltd. (Tel Aviv, Israel), which is developing and commercializing next-generation flow diversion stent technology for the treatment of brain aneurysms. Surpass was founded in 2005 in Tel Aviv, with manufacturing and research and development facilities in Miramar, Florida.

According to Stryker's press release, Surpass NeuroEndoGraft flow diverters redirect blood flow away from an aneurysm, allowing a stable clot to be formed within the aneurysm pouch. The NeuroEndoGraft is CE Mark approved, with a limited launch underway outside the United States. Surpass will begin enrolling patients in a clinical trial, conducted under an investigational device exemption, in the fourth quarter of 2012.

Stryker's acquisition of Surpass is an all-cash transaction for $100 million and up to an additional $35 million of milestone payments. The transaction is subject to customary conditions and is expected to close in the fourth quarter of 2012.

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October 15, 2012

Stryker to Acquire Surpass Medical

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