Sullivan & Cromwell
is advising U.S. medical device maker Stryker Corp. on its proposed $764 million acquisition of Trauson Holdings Co. Ltd., a Chinese manufacturer of orthopedic products.
In a statement, Stryker said it made the all-cash offer for Trauson, a leading maker of trauma and spinal orthopedic implants, in order to bolster its presence in China and capture a piece of the country’s growing low-cost orthopedics market.
Luna Group Holdings Ltd., Trauson’s majority shareholder, has tendered its entire 61.7 percent stake in the company as a first step in Stryker’s plan to purchase all Trauson shares. The deal is expected to close in the second quarter.
Stryker is being advised by Sullivan & Cromwell Hong Kong partners Kay Ian Ng and Michael DeSombre and Beijing partners Gwen Wong and Garth Bray.
Hong Kong partners Lina Lee and Robert Ogilvy Watson are representing Trauson.