TSO3, a Canadian company specializing in sterilization technology for medical devices, has agreed to be acquired by Stryker for CAD $68.4MM (USD $51.7MM). TSO3’s activities encompass the sale, production, maintenance, research, development and licensing of sterilization processes related to consumable supplies and accessories for heat-sensitive medical devices. The company provides an easy to use compatibility matrix to match devices to their low temperature sterilization processes. Piper Jaffray and Desjardins acted as financial advisors for the transaction.
For Stryker, the move comes at a time when companies are searching for innovative ways to make instruments more sustainable, cost-effective and efficient to manage. The EcoSmart program from CrossRoads Extremity Systems is just one example of was that OEMs seek to solve pain points around re-sterilization for their customers. With the acquisition of TSO3, Stryker may see the opportunity for a similar program.
Despite ample details about the transaction, discussion of the future plans for the technology were notably absent from the press release and we’ll be watching for developments.
Source: TSO3 Inc.