Stryker plans to invest approximately $400 million in U.K.-based CMR Surgical, a global robotics company, as part of a strategic alliance to expand access to robotic-assisted surgery.
The agreement gives Stryker an exclusive option to acquire 100% of CMR Surgical’s outstanding equity in the future, according to an Oct. 12 news release. The transaction remains subject to regulatory approvals and customary closing conditions.
Under the agreement, Stryker will serve as the exclusive U.S. sales agent for CMR Surgical’s Versius portfolio. CMR Surgical will continue to lead portfolio development and commercialization outside the United States.
CMR Surgical’s second-generation robotic system supports a broad range of soft-tissue procedures. Its modular architecture is designed to accommodate different procedures, surgeons and care settings, including hospitals and ambulatory surgery centers.
Andy Pierce, group president of Medsurg and Neurotechnology at Stryker, will also join CMR Surgical’s board of directors. Mr. Pierce has more than 30 years of medtech leadership experience at Stryker.
The companies did not specify when the investment is expected to close.
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