By Michael Dabaie

Stryker Corp. said it agreed to acquire Vocera Communications Inc. for $79.25 a share.

That represents a total equity value of about $2.97 billion and a total enterprise value of about $3.09 billion, including convertible notes, the medical technology company said.

Vocera shares were up 26% to $78.51 in premarket trading. Vocera, which was founded in 2000, is a platform in the digital care coordination and communication category.

"The importance of this growing segment has continued to expand throughout the pandemic as it aims to reduce cognitive overload for caregivers and enables them to deliver the best patient care possible," Stryker said.

Stryker will commence a tender offer for all outstanding shares of common stock of Vocera for $79.25 per share in cash. The boards of directors of both Stryker and Vocera have unanimously approved the transaction.

Stryker said it expects the acquisition to close in the first quarter of 2022 and expects the deal to have a neutral impact to earnings per share in 2022.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

January 06, 2022 08:37 ET (13:37 GMT)

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