Pharma BD Deal Intelligence

Stryker Corporation / Trauson Holdings Company Limited

2013 · Acquisition/Merger · $764M · Complete

WRONG BY 49 POINTS
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The coverage arc

Jan 17, 2013 Bloomberg (citing OSK and JPMorgan analysts) Bullish

JPMorgan's Michael Weinstein called Trauson 'highly profitable with gross margins in the high 60 percent range' and 'the largest distributor of trauma products…

Jan 18, 2013 Crain's Detroit Business Bullish

Piper Jaffray analyst Matt Miksic viewed the China middle market as an attractive opportunity, saying the Trauson acquisition nicely complements Stryker's…

Jan 01, 2014 China Med Device Bullish

China's trauma implants market reached 3.8B RMB in 2013 (CAGR 17.6% since 2009) and spine reached 3.3B RMB (CAGR 18.7%); the broader orthopedic instrument…

Source summaries from our enrichment pipeline; follow links for originals.

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Stryker offered HK$7.50/share cash (total $764M, EV ~$685M) for Chinese orthopedics maker Trauson; expanded China/EM footprint in trauma and spine.

Did it work? Outcome assessment

Strategic verdict
Partially Achieved
Financial impact
Neutral

Key facts

Related deals — scored

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Stryker Corporation / Trauson Holdings Company Limited (this deal)2013$764M37
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Stryker Corporation / Gaymar Industries2010$150M54
Stryker Corporation / Inari Medical, Inc.2025$4.9B
Watson Pharmaceuticals (Actavis Inc.) / Actavis plc2012$5.9B97
Kohlberg Kravis Roberts & Co. / PRA International (Genstar Capital)2013$1.3B91

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