Reuters - Stryker Buys Hong Kong-based Trauson Holdings

Medical device maker Stryker Corp. said it will buy Hong Kong-based Trauson Holdings Co. Ltd. for $764 million in cash to expand in China, one of the fastest-growing markets for orthopedic products, Reuters reported Thursday. Stryker will pay HK$7.50 ($0.97) for every share of Trauson. The offer is at a premium of about 45 percent to Trauson's closing price on January 8, when the shares were halted on the Hong Kong Stock Exchange. Founded in China in 1986, orthopedics firm Trauson had sales of about $60 million in 2011 and makes spine devices and products for trauma surgeries.

DealsNorth AmericaUSBriefs