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Stryker closes US$51.7M acquisition of TSO3

Stryker Corp. completed the acquisition of Quebec City-based TSO3 Inc. for US$51.7 million.

Under the deal, a unit of Kalamazoo, Mich.-based medical-device maker Stryker acquired all issued and outstanding shares of TSO3 for 43 Canadian cents apiece.

The plan of arrangement was previously approved by the Superior Court of Quebec and TSO3's shareholders.

Shares of TSO3, which produces sterilization processes and related supplies for medical devices, will soon be delisted from the Toronto Stock Exchange.