par Thomas Dworetzky
, Contributing Reporter | September 06, 2019
Stryker has agreed to buy point-of-care imaging company Mobius Imaging and sister firm GYS Tech, which does business as Cardan Robotics, for about $370 million in cash and as much as $130 million in contingency payments based on milestones.
The deal will give Stryker’s Spine division access to the intraoperative imaging segment.
“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, Orthopedics and Spine, said in a statement.
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Mobius specializes in workflow integration of advanced imaging technologies, thanks to its Airo TruCT scanner, a real-time, diagnostic-quality CT imaging system. Cardan Robotics, is developing robotics and navigation technology systems for surgical and interventional radiology procedures.
The deal is slated to close in Q4 2019.
In other Stryker acquisition news, the company completed its deal
for another company, California-based Arrinex, developer of ClariFix, a cryoablation technology, used to treat chronic rhinitis.
That move expanded Stryker’s Ear, Nose and Throat portfolio.
“The acquisition of Arrinex is highly complementary to Stryker’s ENT portfolio, which is part of our neurotechnology business,” said Stiles in a statement at the time.
In late 2018, the firm formed new partnerships
between its Advanced Guidance Technologies business, and Synaptive Medical and Ziehm Imaging, respectively, in order to offer additional technological solutions for greater surgical guidance.
The arrangement provided its clients with access to whole-brain tractography capabilities using Synaptive Medical’s BrightMatter Plan software, and the latest flat-panel technology for CT-like image quality with the Ziehm Vision RFD 3D C-arm.
“The needs of our customers are evolving, and as a result, our business should evolve, too,” Lisa Kloes, senior director and general manager for Stryker's Advanced Guidance Technologies business, told HCB News at the time. “The partnerships with Synaptive Medical and Ziehm Imaging strongly align with our vision and strategy, and enable us to continue to empower our customers with the capabilities they need to enhance their surgical decision-making and performance.”
Stryker made another deal in September, 2018, when it announced it would acquire Invuity
, a leading medical technology maker of tools to boost visualization during surgery, at a value of about $190 million.
“The combination of Stryker's established leadership in minimal-access surgery paired with Invuity’s suite of enabling visualization and surgical devices should facilitate better patient outcomes and operating room efficiencies in women’s health, general surgery, electrophysiology and orthopedics,” Invuity’s interim chief executive officer Scott Flora said in a statement at the time.
Invuity’s products in the single-use lighted instrumentation and hybrid energy markets offer “best-in-class illumination,” thanks to its patented Intelligent Photonics, making for safer surgery, noted Stiles at the time.