Stryker adds to spine division with $500M acquisition: 3 details

Laura Dyrda -   Print  |

Stryker signed a definitive agreement to acquire a point-of-care imaging technology company for up to $500 million on Sept. 4.

Three key points:

1. Stryker will acquire Mobius Imaging and its sister company Cardan Robotics in an all-cash transaction of $370 million. Stryker could pay up to $130 million more if the company meets development and commercial milestones.

2. Mobius Imaging and Cardan Robotics will be added to the Stryker Spine division, adding intraoperative imaging technology to align with the company's implant and navigation offerings. Stryker aims to become a category leader in neurotechnology, orthopedics and spine.

3. The acquisition will likely have an immaterial impact on 2019 earnings and is expected to close in the fourth quarter.

"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 Stryker Group President of Orthopedics and Spine Spencer Stiles.

At the end of 2018, Stryker finalized a $1.4 billion acquisition of K2M, a company focused on minimally invasive technology for complex spine surgeries.

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