Stryker has been in the news quite a bit lately and the last post discussed the indictment of some of their top management, but on with today’s news they are buying a company that re-works medical devices, good business to be in today.
Stryker Biotech and its Top Management Indicted – Alleged Illegal Bone Putty and Medical Device Marketing
From the Ascent website:
“Ascent Healthcare Solutions helps hospitals act more environmentally responsible and improve the quality of healthcare through more sustainable resource allocations. We do this by reprocessing (cleaning, testing/verifying, packaging and sterilizing) and remanufacturing (disassembling, repairing, and manufacturing) delicate and costly devices that are marketed in North America as "single use" by the original manufacturer and often needlessly thrown away.
We provide the services to our partners needed to realize improved sustainability in medical device use:
Initial assessment of opportunity to redirect important funds to patient care quality initiatives
Education of clinical and support personnel”
On the partner page are listed the Mayo Clinic, Shriners Hospitals, Catholic Care West and many other large hospitals and healthcare organizations. With all the devices coming out today and technology burstin at the seems, there appears to be a large calling for this type of business. BD
Stryker will acquire Ascent for $525 million in an all cash transaction, a release said.
Ascent, which is privately held, was formed in the December 2005 merger of Alliance Medical Corp. of Phoenix and Vanguard Medical Concepts in Lakeland. Ascent, which Stryker said is the market leader in the reprocessing and remanufacturing of medical devices in the United States, currently has reprocessing facilities in Phoenix and Lakeland, and employs about 900 individuals in the two locations. Ascent provides services to 1,800 hospitals and group purchasing organizations throughout North America.