Stryker to Buy Mobius Imaging, Cardan Robotics for Up to $500 Million

Date : 09/04/2019 @ 12:44PM
Source : Dow Jones News
Stock : Stryker Corp (SYK)
Quote : 206.25  0.0 (0.00%) @ 9:00AM

Stryker to Buy Mobius Imaging, Cardan Robotics for Up to $500 Million

Stryker (NYSE:SYK)
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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.

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