Stryker buys Chinese Orthopedic company for $764 million

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Stryker to Acquire Trauson Holdings for $764 Million (Orthopedics This Week)
Stryker announced plans today to acquire Trauson Holdings, the leading trauma manufacturer in China, a move that will strengthen the company's presence not only in China, but other emerging markets as well. Stryker will pay $764 million in cash for Trauson, or HK $7.50 ($0.97) per share, representing a 45% premium over the closing price of HK $5.16 ($0.67) on January 8, 2013. Net of cash, the deal is valued at $685 million, which is approximately 8.3x consensus 2012E revenues and 19.9x consensus 2012E EBITDA.
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