Stryker announces definitive agreement to acquire Mobius Imaging & Cardan Robotics
Posted on September 04, 2019 by Medtech[y] Staff
Stryker (NYSE: SYK) announced today a definitive agreement to acquire Mobius Imaging, LLC, a leader in point-of-care imaging technology, and its sister company, GYS Tech, LLC (DBA Cardan Robotics), in an all cash transaction of approximately $370 million upfront and up to $130 million of contingent payments associated with development and commercial milestones. 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.
Mobius Imaging, founded in 2008, is 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 best-in-class mobile, real-time, diagnostic-quality CT imaging system. Cardan Robotics, founded in 2015, is working to develop innovative robotics and navigation technology systems for surgical and interventional radiology procedures.
Airo Mobile Intraoperative CT
"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, Stryker’s Group President, Orthopaedics and Spine. "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 transaction is expected to have an immaterial impact to Stryker's net earnings in 2019. 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.