Stryker Corp. said it has a definitive agreement to acquire Ascent Healthcare Solutions for $525 million in cash.
Through the deal, Ascent will become a division of Stryker, operating under its MedSurg group of businesses. The deal is expected to close by the end of the year, subject to customary closing conditions, Stryker said in a news release. Phoenix-based Ascent was developed when Alliance Medical Corp. and Vanguard Medical Concepts merged in 2005. The company sells reprocessed and remanufactured medical devices.
Kalamazoo, Mich.-based Stryker offers a wide range of medical technology and devices.