Stryker (NYSE:SYK) said today that it closed the $500 million buyout of Mobius Imaging and its Cardan Robotics subsidiary.
The Kalamazoo, Mich.-based company was the first orthopedics major to bet large on robotics with the $1.68 billion acquisition of Mako Surgical in December 2013. Last month Stryker agreed to pay $370 million up front, with another $130 million on the line in milestones, for Shirley, Mass.-based Mobius and sister company GYS Tech, which operates under the Cardan Robotics brand.
Mobius developed the Airo TruCT scanner, which won 510(k) clearance from the FDA in April 2018. The company raised $25 million last year. Founded in 2015, Cardan is developing robotics and navigation technologies for spinal procedures.
“Mobius Imaging and Cardan Robotics bring expertise in advanced imaging and robotics, as well as a robust product pipeline, that will provide Stryker the opportunity to increase its presence in Orthopaedics, Spine and Neurotechnology,” orthopedics & spine president Spencer Stiles said in prepared remarks. “With this acquisition, we are positioned to make healthcare better by providing more complete procedural solutions, including sales, service, and support. We remain committed to our surgeons and helping them achieve the best possible outcomes for their patients.”
Stryker in announcing the deal in September said it’s not expected to affect net earnings this year.
Original Article: (https://www.massdevice.com/stryker-clo/)
