Vocera Stock Rockets Higher on Acquisition by Stryker

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Dreamstime

Shares of

Vocera Communications

rose sharply Thursday after medical tech specialist

Stryker

announced it was buying the clinical workflow provider in a deal with an enterprise value of more than $3 billion.

Stryker agreed to buy Vocera for $79.25 a share in cash. The acquisition is expected to close in the first quarter of 2022.

Vocera (ticker: VCRA) shares soared 26.7% to $79.19. Stryker’s (SYK) stock slipped 0.5% to $271.02.

“Vocera will help Stryker significantly accelerate our digital aspirations to improve the lives of caregivers and patients,” said Kevin Lobo, CEO at Stryker, in a press statement.

Founded in 2000, Vocera develops software and hardware solutions for digital care coordination and communication. It enables remote communication between patients and their families, which complements Stryker’s advanced digital healthcare offerings, the press release said.

Write to Karishma Vanjani at [email protected]

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