Pharma BD Deal Intelligence
Stryker's $150M cash buyout converted a decade-long OEM supply deal into outright ownership of Gaymar's pressure-ulcer and temperature-management device lines. Both acquired manufacturing plants closed within two years and roughly 160 jobs were cut, though the underlying product technology survived inside Stryker's Acute Care portfolio.
Stryker buys Gaymar Industries for $150 million, broadening its capital and disposable product portfolio in pressure ulcer management and temperature…
MedCity News framed the $150M Gaymar acquisition as a logical extension of a 10-year OEM relationship and an attractive bolt-on for Stryker's Medical division…
Stryker announces definitive agreement to acquire privately held Gaymar Industries for approximately $150 million in an all-cash transaction, expanding into…
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Stryker to acquire privately held Gaymar Industries for $150M cash, formalizing 10-year OEM partnership in pressure ulcer/temperature management devices.
Assessment window: 10yr post-close.
$1.8B Global support-surface / pressure-ulcer device market 2010 (Stryker estimate)
Hospital-acquired pressure injuries are localized skin and tissue damage caused by sustained pressure on bony prominences, common in immobile ICU and long-term acute-care patients. Stage 3 and 4 pressure ulcers are CMS-designated never-events that hospitals are not reimbursed for, driving demand for therapeutic support surfaces, low-air-loss mattresses, and active microclimate / temperature management systems.
The 2010 US pressure-ulcer and support-surface market was led by Hill-Rom (the dominant integrated bed-and-surface vendor), KCI/Kinetic Concepts (best known for V.A.C. negative-pressure wound therapy and the newly launched Skin IQ Microclimate Manager coverlet), Arjo, Smith & Nephew, and Mölnlycke on the prevention dressings side. Stryker had a leading Medical division position in stretchers and patient-handling but had relied on a 10-year OEM relationship with Gaymar to source therapeutic support surfaces for its acute-care hospital channel — about $14M of Gaymar's $77M 2009 revenue came directly from that arrangement. Acquiring Gaymar pulled support-surface and temperature-management margin in-house and added a defensive line against Hill-Rom's bundled bed-plus-surface offerings. The $1.8B worldwide market identified in Stryker's release was attractive given hospital capital cycles and CMS never-event policy, which was steering hospitals toward higher-tier therapeutic surfaces. Stryker guided to EPS-neutral in 2010-2011 and accretive thereafter, signaling the deal was a strategic in-fill rather than a near-term financial driver. The acquisition is generally viewed as a sensible bolt-on: low strategic risk, captive demand, and expanding TAM. Source: https://investors.stryker.com/press-releases/news-details/2010/Stryker-Announces-Plans-to-Acquire-Privately-Held-Gaymar-Industries-for-150-Million/default.aspx
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Stryker Corporation / Gaymar Industries (this deal) | 2010 | $150M | 54 |
| Stryker Corporation / MAKO Surgical Corp. | 2013 | $1.6B | 91 |
| Stryker Corporation / Wright Medical Group N.V. | 2019 | $5.4B | 81 |
| Stryker Corporation / Trauson Holdings Company Limited | 2013 | $764M | 37 |
| Stryker Corporation / Inari Medical, Inc. | 2025 | $4.9B | — |
| Watson Pharmaceuticals (Actavis Inc.) / Actavis plc | 2012 | $5.9B | 97 |
| Kohlberg Kravis Roberts & Co. / PRA International (Genstar Capital) | 2013 | $1.3B | 91 |
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