Stryker Makes Acquisitions and Realigns Management

Stryker, a leader in the field of medical technology, offers products and services focusing on neurotechnological, medical, surgical, spinal, and orthopedics specialties. The company not only provides medical devices and implants but is also involved in many facets of healthcare, from design services for emergency and operating rooms to the production of emergency patient transport options.

On August 12, 2019, Stryker, based in Kalamazoo, MI, and founded in 1941, announced that it has agreed to acquire Mobius Imaging and its sister company, Cardan Robotics. According to the company, this will give Stryker immediate entry into the intraoperative imaging segment, which fits well with its implant and navigation offerings.

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The up to $500 million all-cash deal, which is slated to close in the fourth quarter, consists of an upfront payment of $370 million and up to $130 million of contingent payments dependent on development and commercial milestones.

Mobius Imaging, founded in 2008, is focused on integrating advanced imaging technologies into the workflow, with the goal of enabling clinicians to collect the highest-quality images. Its Airo TruCT scanner, with more than 130 active installations, is considered a best-in-class mobile, real-time, diagnostic-quality CT imaging system. Cardan Robotics, a company founded more recently in 2015, emphasizes the development of robotics and navigation technology systems to aid in surgical and interventional radiology procedures.

Besides these acquisitions, Stryker has also just undergone a commercial structure realignment. Spencer S. Stiles is now in the role of group president of Orthopedics and Spine and will oversee Stryker’s Joint Replacement, Trauma and Extremities, and Spine divisions. The new group president of MedSurg and Neurotechnology is J. Andrew Pierce, who will manage Stryker’s instruments, medical, endoscopy, sustainability, and neurotechnology businesses. Both have been with the company for over 20 years, and Stryker believes that this realignment will enhance and expand the globalization and collaboration opportunities and take advantage of the men’s diverse experiences.

Regarding the recent acquisition of Mobias Imaging and Cardan Robotics, Stiles commented that “it 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.”