Stryker invests $400M into CMR Surgical

CMR Surgical's Versius platform in an OR, it features four carts with robotic arms.

CMR Surgical said it designed Versius to be compact and modular, so it doesn’t require a dedicated OR. | Source: CMR Surgical

Stryker this week said it has invested about $400 million into CMR Surgical, with an exclusive option for it to acquire the company’s remaining equity. Stryker also secured an exclusive U.S. commercial agency agreement for the Versius portfolio.

“This strategic alliance is a significant milestone for CMR and a strong endorsement of the technology, clinical experience, and global business we have built,” stated Massimiliano Colella, CEO of CMR Surgical. “Stryker’s investment will give us additional strength to accelerate innovation and the continued global expansion of the Versius portfolio, while its scale and deep customer relationships create a significant growth opportunity in the United States.”

Cambridge, U.K.-based CMR Surgical said it has designed the Versius platform for real-world operating environments. The surgical robot‘s modular architecture supports flexibility across procedures, surgeon access and sites of care, the company claimed.

CMR Surgical gets clearance for more procedures

CMR Surgical said that Versius can help healthcare providers grow robotic adoption within existing operating room workflows. This scalable approach can help health systems meet growing demand for robotic-assisted surgery while preserving operational flexibility and supporting long-term program economics, added the company.

Versius supports procedures including general surgery, colorectal surgery, urology, gynecology and thoracic surgery. The robot has has been adopted in hospitals across more than 30 countries and used in 45,000 cases worldwide, according to CMR.

The Versius Plus system has earned FDA 510(k) clearance for cholecystectomy. CMR has also filed a 510(k) submission for benign gynecological indications. The robot has been used in 45,000 cases worldwide, it said.

Stryker to sell Versius system in the U.S.

“Soft-tissue robotics is a high-growth adjacency and a natural extension of Stryker’s strengths in endoscopy, visualization, and enabling technologies,” stated Andy Pierce, the group president of medsurg and neurotechnology at Stryker.

“We have evaluated the segment carefully for years, and this alliance represents a thoughtful and disciplined entry that combines the complementary strengths of both companies,” he added. “We selected CMR Surgical and the Versius portfolio because of the opportunity to help healthcare providers grow robotic-assisted surgery adoption across a broad range of procedures in hospitals and ASCs.”

“We also look forward to welcoming Andy Pierce to our board of directors and benefiting from his more than 30 years of MedTech leadership experience at Stryker as we continue expanding access to robotic-assisted surgery globally,” said Colella.

Moving forward, Stryker will serve as the exclusive U.S. sales agent for the Versius portfolio, while CMR Surgical will continue to lead portfolio development and commercialization in markets outside the United States.

Stryker’s exclusive acquisition option gives it the option of buying 100% of CMR Surgical’s outstanding equity in the future, subject to the agreement’s terms. This transaction is subject to regulatory approvals and customary closing conditions.