Michigan’s Stryker buys Calif. surgical business

KALAMAZOO, Mich. (AP) — Michigan-based Stryker Corp. says it will pay $120 million to buy Patient Safety Technologies Inc., a maker of surgical safety systems.

Kalamazoo-based Stryker said Tuesday that it will pay $2.22 a share for the Irvine, Calif.-based company.

Stryker says that the Patient Safety Technologies subsidiary SurgiCount Medical Inc. makes the Safety-Sponge System. It’s a system intended to prevent retained foreign objects during surgery.

Those objects can include surgical sponges, needles, and instruments or instrument fragments left inside a patient’s body during an operation.

Stryker says it expects to close the deal in the first quarter of 2014.

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