The private shareholders and owners of Muka Metal, A.S. have sold the company to Stryker Corporation. Financial details have not been disclosed.
Since launching its first hospital bed in 2002, Muka Metal has established itself as a leading manufacturer and marketer of hospital beds, stretchers and related patient room furniture and accessories. In 2014, Muka Metal finished the construction of a state-of-the-art facility located in a free trade zone within Kayseri, Turkey.
Headquartered in Kalamazoo, Michigan,USA, Stryker Corporation is one of the world's leading medical technology companies and offers a diverse array of innovative products and services in orthopedics, medical and surgical, and neurotechnology and spine, which help improve patient and hospital outcomes. This transaction will expand Stryker’s presence in Turkey as well as in Latin America, while also providing a product portfolio that complements and enhances Stryker's current portfolio.
"The acquisition of Muka Metal aligns with our strategy to expand our global presence through existing channels with an established and trusted brand," said Timothy J. Scannell, Stryker Group President, MedSurg and Neurotechnology. "This acquisition will bolster Stryker Medical's bed and stretcher offerings, and is a compelling opportunity to drive growth in Turkey and other regions around the world."
Oaklins' team in Turkey acted as the exclusive financial advisor to the seller in this transaction.
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