Its third acquisition of the year, Stryker has made the decision to take over sister companies Mobius Imaging and Cardan Robotics to boost its portfolio of robotics surgery and imaging capabilities.
Specifically, Stryker will obtain Mobius’ Airo CT scanner mobile diagnostic imaging system, and Cardan Robotics’ navigation systems for surgical and interventional radiology procedures.
Stryker will make an upfront cash payment of $370 million for the two companies, and an additional $130 million upon the condition of reaching certain commercial milestones.
A statement from the company said: “The acquisition provides Stryker’s Spine division with immediate entry into the intra-operative imaging segment and aligns with Stryker’s implant and navigation offerings.”
Group President of Orthopaedics and Spine at Stryker, Spencer Stiles, added: "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.
“We look forward to working together to advance Stryker’s mission to make healthcare better and accelerate our pursuit of category leadership in Neurotechnology, Orthopaedics, and Spine."
The acquisition will allow Stryker to boost its portfolio of services offered to patients across the world, whilst also leaving room for collaboration and further growth upon combining the resources and research and development capabilities of the three companies.