AcquisitionsMay 11, 2026, 11:16 AM
Stryker Acquires AVS for $435M; Q1 Diluted EPS $1.93
AI Summary
Stryker announced the acquisition of Amplitude Vascular Systems (AVS) for $435 million in cash, with potential future milestone payments up to $400 million, to enhance its Vascular business. For the first quarter of 2026, the company reported a 2.6% increase in net sales to $6,020 million and a 13.9% rise in net earnings to $745 million, resulting in diluted EPS of $1.93. The company also repaid $1,000 million in senior unsecured notes and reorganized its Orthopaedics segment to create the new Ortho Tech business, while also noting a cybersecurity incident in Q1 2026.
Key Highlights
- Acquired Amplitude Vascular Systems (AVS) for $435M cash, plus up to $400M in future milestone payments.
- Q1 2026 Net Sales increased 2.6% to $6,020M from $5,866M year-over-year.
- Q1 2026 Net Earnings rose 13.9% to $745M from $654M year-over-year.
- Q1 2026 Diluted Earnings Per Share grew 14.2% to $1.93 from $1.69 year-over-year.
- Repaid $1,000M of 3.500% senior unsecured notes in March 2026.
- MedSurg and Neurotechnology segment net sales increased 4.9% to $3,207M.
- Orthopaedics segment net sales were $2,813M, flat year-over-year.
- Cash dividends declared per share increased to $0.88 from $0.84.