Stryker acquiring two medtech companies for $500M
Stryker is acquiring a point-of-care imaging technology business and a robotics company.
The Kalamazoo-based maker of medical devices and equipment said today it signed a definitive agreement to acquire Mobius Imaging and its sister company, GYS Tech, dba Cardan Robotics.
The deal is an all-cash transaction of about $370 million up front and up to $130 million of contingent payments associated with development and commercial milestones.
The transaction is subject to customary closing conditions, including expiration of the applicable waiting period under the HSR Act, and is expected to close in the fourth quarter of 2019.
The acquisition is expected to have an “immaterial” impact to Stryker’s net earnings in 2019.
The move provides Stryker’s spine division “immediate entry into the intra-operative imaging segment” and “aligns with Stryker’s implant and navigation offerings,” according to Stryker.
“This acquisition brings expertise in advanced imaging and robotics, as well as a robust product pipeline that add to Stryker’s portfolio and will allow the spine division to provide more complete procedural solutions, including sales, service and support," said Spencer Stiles, group president, orthopedics and spine, Stryker.
“We look forward to working together to advance Stryker’s mission to make health care better and accelerate our pursuit of category leadership in neurotechnology, orthopedics and spine,” he said.
Founded in 2008, Mobius Imaging is a point-of-care imaging technology provider focused on “integrating advanced imaging technologies into medical workflow, which can enhance a clinician’s ability to obtain high-quality images.”
Its Airo TruCT scanner is a mobile, real-time, diagnostic-quality CT imaging system.
Founded in 2015, Cardan Robotics is working to develop innovative robotics and navigation technology systems for surgical and interventional radiology procedures.