Entellus Medical announced on Thursday a definitive merger agreement by which Stryker Corporation will acquire Entellus in an all cash transaction for $24.00 per share, or an equity value of approximately $662m.
The Entellus Board of Directors unanimously approved entering into the agreement.
Timothy J. Scannell, Group President, MedSurg and Neurotechnology at Stryker, said: “Entellus is a leader in the ENT segment and offers a comprehensive portfolio of products that enable physicians to conveniently and comfortably perform a broad range of ENT procedures.”
Stryker Corporation is a Fortune 500 medical technologies firm based in Kalamazoo, Michigan. Stryker's products include implants used in joint replacement and trauma surgeries.