Stryker Invests in Tech to Prevent Operating Room Mishaps

Stryker recently announced that it will pay about $120 million, or $2.22 per share, for Patient Safety Technologies and its bar code tracking technology meant to prevent medical professionals accidentally leaving sponges and other items inside of patients post-surgery.

According to Stryker, sponges are the most common object retained during surgery, with about 2,300 incidents reported annually at an average cost per incident of over $400,000.

"This acquisition aligns with Stryker's focus on offering products and services that have demonstrated cost effectiveness and clinical outcomes," says Timothy J. Scannell, Stryker's group president in the medical surgery area. 

The deal, announced on New Year's Eve, is expected to close early this year.