By Michael Dabaie

Vocera Communications Inc. shares rose 27% to $79.13, near the $79.25 a share acquisition price in the deal for Stryker Corp. to acquire digital care coordination and communication platform Vocera.

Medical technology company Stryker earlier agreed to buy Vocera in a deal with a total equity value of about $2.97 billion and a total enterprise value of about $3.09 billion, including convertible notes.

"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.

"Today's milestone represents an exciting opportunity for Vocera given the clear alignment of mission, goals and culture between our two organizations and our ability to drive even greater economic and clinical value for our customers," said Vocera Chief Executive Brent Lang.

Stryker said Vocera brings a complementary portfolio to its Medical division that will address the need for hospitals to connect caregivers and data-generating medical devices.

Stryker said it expects the acquisition to close in the first quarter 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 11:17 ET (16:17 GMT)

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