Stryker follows a slew of medtechs that have aimed to deepen their robotic surgery capabilities this year through acquisitions: Johnson & Johnson bought out Auris Health for $3.4 billion, Intuitive Surgical added Schölly Fiberoptic’s robotic endoscope business, and Siemens Healthineers last month purchased Corindus Vascular Robotics.
The acquisition is also the third announced by Stryker this year, with the company having previously picked up chronic rhinitis device maker Arrinex and rotator cuff tear tech company OrthoSpace. Canadian hospital sterilization product manufacturer TSO3 also last month said it had agreed to be acquired by Stryker.
The deal announced Wednesday is the second major medtech exit for Mobius CEO and co-founder Eugene Gregerson, who previously co-founded Breakaway Imaging, which sold its O-arm imaging system to Medtronic’s surgical navigation systems business in 2007.
Stryker’s presence in robotics has been mostly centered on its Mako joint replacement platform for total knee, partial knee and total hip procedures, technologies acquired through its $1.65 billion buyout of Mako Surgical in 2013. Stryker said the product line helped drive its recent 9.9% growth in net sales during the second quarter. The expansion into other robotic surgery technologies comes as Zimmer Biomet’s Rosa robotic surgery platform has begun to take share in some of Mako’s specialties.
Neurotechnology and Spine, Stryker’s smallest division, had 7.4% organic growth last quarter. The company made a major investment in the unit last year with the $1.4 billion acquisition of spinal surgery device maker K2M. The strategy of bolstering spine device sales by enhancing spine surgery platforms appears to be working for at least one competitor; Medtronic reported a bump to its spine implant sales in the most recent quarter thanks to adoption of its Mazor robotic surgery platform.
Stryker anticipates the deal will close in the fourth quarter of 2019 and does not expect it to have material impact on full-year net earnings.
By Maria Rachal
In 2017, Sanofi partnered with the Lebanon, New Hampshire-based ImmuNext to develop an antibody for autoimmune diseases like lupus and multiple sclerosis, which included giving Sanofi a worldwide license to develop frexalimab. The agreement involved milestone payments upto $500 million.
Global manufacturer for the pharmaceutical, biotech and nutraceutical markets, Lonza has announced that it has acquired Synaffix, a biotech company focused on the commercialisation of its clinical stage technology platform for the development of antibody-drug conjugates (ADCs).
In its hunt for the new head of its pharmaceutical systems business—which makes syringes, self-injection systems and other drug delivery devices for 70% of the top 100 drugmakers in the world, according to the company—BD landed on a candidate with plenty of experience among that customer group.