Stryker to buy Patient Safety Technologies for $120 million
(Reuters) - Stryker Corp (SYK.N) said it would buy Patient Safety Technologies Inc (PSTX.PK) for $120 million to gain access to Patient Safety's device to reduce the risk of surgical sponges being left in patients after surgery.
The medical technology company will pay $2.22 per share for Patient Safety, which represents a 50 percent premium to the stock's closing price on Monday.
(Reporting by Vrinda Manocha in Bangalore; Editing by Kirti Pandey)
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