Stryker (Kalamazoo, Michigan) is strengthening its position in the orthopedics sector with its acquisition of Orthovita (Malvern, Pennsylvania). The agreement calls for Stryker to acquire all of the common stock of Orthovita for $3.85 per share cash which is about $316 million. The share price represents a premium of 41% from Orthovita's closing price Friday. It will also assume $12 million in debt held by Orthovita. (Medical Device Daily)