Stryker agrees to pay $764 million to acquire Trauson Holdings, a Chinese medical device company that makes spinal and trauma care products.
The Kalamazoo, Mich-based medical device company and Trauson have had an OEM relationship since 2007, according to a press release.
"The acquisition of Trauson is a critical step toward broadening our presence in China and developing a value segment platform for the emerging markets through a well established brand," Stryker president & CEO Kevin Lobo said in prepared remarks . "The acquisition of a leading player in the Chinese trauma and spine market underscores our commitment to strengthening our presence globally. With its research and development expertise, manufacturing capabilities and strength of its distribution network, Trauson is a compelling opportunity for Stryker to drive growth in China and other emerging markets for years to come."