Baker & McKenzie announced today that it acted for the Mathys family to reach agreement to combine Mathys Medizinaltechnik AG and Synthes-Stratec Inc. to create a global osteosynthesis medical device company.
To effect the transaction, Synthes-Stratec is purchasing all Mathys shares for CHF 1 billion in cash and CHF 500 million in Synthes-Stratec equity, issuing 510’725 shares. Closing of the transaction is expected to occur within three to four months.
Mathys, a family-owned company, has worked closely with the AO/ASIF Foundation (Arbeitsgemeinschaft für Osteosynthese/Association for the study of internal fixation) since 1958, and is comprised of osteosynthesis and prosthetics businesses. Mathys’ prosthetics business will not be part of the combination.
Before closing, the Mathys family will transfer all prosthetic operations into an independent company under the name Mathys Ltd. Bettlach. and the Dr. h.c. Robert Mathys Foundation will remain an independent research and testing institution located in Bettlach. Synthes-Stratec is a leading international medical device company, specializing in the development, manufacturing and marketing of osteosynthesis instruments and implants.