Stryker Corp. (NYSE: SYK) is buying a medical devices portfolio company of Bain Capital Private Equity for $1.28 billion cash. The company, Physio-Control International Inc., makes monitors, defibrillators and CPR-assist devices, along with providing data management and support services.
Physio-Control, founded in 1955, had sales of $504 million for its fiscal year 2015, up 6% from 2014. Brian Webster is the company’s president and CEO. Chris Gordon, a Bain managing director, says that his firm expects the company’s research and development investments has positioned it for further growth with Stryker.