Stryker to Buy Mobius Imaging, Cardan Robotics for Up to $500 Million
September 04 2019 - 8:44AM
Dow Jones News
By Colin Kellaher
Stryker Corp. (SYK) on Wednesday said it agreed to buy a
privately held point-of-care imaging technology company for up to
$500 million in cash.
The Kalamazoo, Mich., provider of medical technology products
and services said it will pay an initial $370 million for Mobius
Imaging LLC and its sister company, GYS Tech LLC, which does
business as Cardan Robotics.
Stryker said the deal also includes up to $130 million of
contingent milestone payments.
Stryker said the acquisition provides its spine division with
immediate entry into the intra-operative imaging segment and aligns
with its implant and navigation offerings.
The company said the acquisition, which it expects to complete
during the fourth quarter, will have an immaterial impact in its
earnings this year.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 04, 2019 08:29 ET (12:29 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Stryker (NYSE:SYK)
Historical Stock Chart
From Aug 2024 to Sep 2024
Stryker (NYSE:SYK)
Historical Stock Chart
From Sep 2023 to Sep 2024