Stryker Acquires Mobius Imaging and Cardan Robotics for $500 Million to Expand into Surgical Robotics

On September 4, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that Stryker announced the acquisition of Mobius Imaging and its subsidiary Cardan Robotics for a total of $500 million, comprising $370 million in upfront cash and $130 million in milestone payments.

Through this acquisition, Stryker will obtain Mobius’s Airo CT scanning device, a mobile diagnostic imaging system designed for surgical robots. The FDA first cleared an early version of this system in 2013 and added pediatric indications for the product last year. This acquisition will enable Stryker’s Spine division to enter the intraoperative imaging market, aligning with the company’s implant and navigation products, and provide strong momentum for the development of the spinal implant market through surgical robotics.

Stryker, founded in 1941, is one of the world’s largest orthopedic and medical technology companies. Its business is primarily divided into segments including Orthopaedics, Surgical Equipment, Neurotechnology, and Spine. Among these, its Spine products consist of spinal implant devices, comprising cervical, thoracolumbar, and interbody systems used for the treatment of spinal injuries, deformities, and degenerative conditions.

“Spencer Stiles, President of Stryker’s Orthopaedics and Spine divisions, stated in a press release: ‘This acquisition will bring Stryker cutting-edge expertise and a robust product portfolio in the fields of imaging and robotics, enriching Stryker’s existing offerings and enabling the Spine division to provide more comprehensive solutions.’”

Mobius Imaging, founded in 2008, is dedicated to integrating advanced imaging technologies into medical workflows, thereby enhancing clinicians’ ability to acquire high-quality images. Its Airo TruCT scanner provides real-time, mobile imaging. In February this year, the Airo TruCT scanner was integrated with Stryker’s NAV3i Spine Surgery Guidance System for the first time through a project at WellSpan York Hospital in Pennsylvania, USA.

Mobius CEO Gene Gregerson stated, “Airo CT is designed to provide surgeons with easier access to CT images without disrupting the surgical procedure.”

Cardan Robotics, founded in 2015, is dedicated to developing navigation systems and hardware for assisted spinal surgery and interventional radiology. Formerly known as the Orion Surgical Suite, it is complemented by the Airo CT system for endoscopic spinal surgery. The company has installed approximately 130 Airo systems.

In a report to investors, Canaccord Genuity analyst Kyle Rose expressed approval of the deal, noting that it enables Stryker to enter the intraoperative imaging space and establish a foothold in robotics and navigation products, which will shape the future of spinal surgery. Furthermore, integrating image-guided procedures into Stryker’s spine portfolio will enhance the company’s market competitiveness.

For more details, please follow VCBeat.Pro Topic“Stryker Invests Another 3.5 Billion Yuan, Creating a New ‘One Superpower, Multiple Strong Players’ Landscape in Surgical Robotics”

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(Compiled by: Tian Shuhang)