Stryker announced a definitive agreement to acquire Mobius Imaging LLC and its sister company Cardan Robotics, according to a press release.
Stryker reportedly agreed to an all-cash transaction of around $370 million upfront and up to $130 million of contingent payments correlated with development and commercial milestones.
“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,” Spencer Stiles, Stryker’s group president of orthopedics and spine, said in the release. “We look forward to working together to advance Stryker’s mission to make health care better and accelerate our pursuit of category leadership in neurotechnology, orthopedics and spine.”
According to the release, Stryker anticipates the transaction will have an immaterial impact on its net earnings for 2019. The transaction is reportedly subject to customary closing conditions, which include expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. The transaction is expected to close the fourth quarter of 2019.