Stryker buying Physio-Control for $1.28 billion

KALAMAZOO, Mich. — Medical technology company Stryker is buying Physio-Control International Inc. for $1.28 billion, which will help expand its product offerings and broaden its global reach.

Privately held Physio-Control develops, makes and markets monitors/defibrillators, automated external defibrillators, CPR-assist devices and data management and support services. The company had fiscal 2015 sales of $503 million.

On Feb. 1, Stryker announced a deal to acquire Cary-based medical products company Sage Products for $2.775 billion in cash from Chicago’s Madison Dearborn Partners. Sage makes products used to prevent hospital patients from developing conditions related to using ventilators, skin ulcers, pressure sores and surgical site infections.

The Physio-Control transaction is expected to close at the start of the second quarter.

Stryker is based in Kalamazoo, Michigan.