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Stryker Corp to buy medical imaging group NOVADAQ Technologies for US$701mln

“This transformative transaction recognizes the exceptional value we have built,” said Rick Mangat, chief executive of NOVADAQ.
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Stryker will pay a premium price of US$11.75 a share

Medical devices giant Stryker Corp (NYSE:SYK) is splashing US$701mln on NOVADAQ Technologies (NASDAQ:NVDQ), a medical imaging company.

Stryker has agreed to pay US$11.75 a share, which is almost double Friday’s closing price for stock, which was US$6.

“This transformative transaction recognizes the exceptional value we have built,” said Rick Mangat, chief executive of NOVADAQ.

“Moreover, we believe it creates a strong opportunity for NOVADAQ, its customers, partners, shareholders and employees.”

NOVADAQ’s has developed the SPY fluorescence imaging technology.

It allows doctors to personalize therapy and achieve the best results through the precise visualization of blood flow in vessels, micro-vessels, tissue and various other parts of the body during treatment.

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