Novadaq Technologies Inc. said the Ontario Superior Court of Justice has approved its acquisition by Stryker Corp. for $11.75 per share in cash.

The acquisition, which has been approved by Novadaq shareholders, is still subject to regulatory approvals under the Canadian Competition Act and U.S. Hart-Scott-Rodino and the satisfaction of certain other customary closing conditions.

The transaction is expected to close in the third quarter of 2017.