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Stryker acquires Mobius Imaging, Cardan Robotics for $500M

By Steve Crowe | September 6, 2019

Stryker, a leading medical technology company based in Kalamazoo, Michigan, acquired Mobius Imaging and its subsidiary Cardan Robotics for $500 million. The deal includes a down payment of $370 million in cash and $130 million that will be paid based on development and commercialization milestones.

Shirley, Mass.-based Mobius develops point-of-care imaging technology. Its Airo TruCT scanner offers mobile, real-time imaging. In February 2019, the system was integrated for the first time with Stryker’s NAV3i guidance system for spine surgeries. The Air TruCT won 510(k) clearance from the FDA in April 2018. Mobius raised $25 million in 2018.

Founded in 2015, Cardan Robotics is developing robotics and navigation technology systems for surgical and interventional radiology procedures.


The Robot Report has launched the Healthcare Robotics Engineering Forum, which will be on Dec. 9-10 in Santa Clara, Calif. The conference and expo focuses on improving the design, development and manufacture of next-generation healthcare robots. Learn more about the Healthcare Robotics Engineering Forum.


“This acquisition brings expertise in advanced imaging and robotics as well as a robust product pipeline that add to Stryker’s portfolio and will allow the Spine division to provide more complete procedural solutions, including sales, service, and support,” said Spencer Stiles, Stryker’s Group President, Orthopaedics and Spine. “We look forward to working together to advance Stryker’s mission to make healthcare better and accelerate our pursuit of category leadership in Neurotechnology, Orthopaedics, and Spine.”

Stryker’s acquisition of Mobius Imaging and Cardan Robotics is expected to close in Q4 2019.

Healthcare Robotics M&As in 2019

Stryker was the first orthopedics major to bet large on robotics with its $1.68 billion acquisition of Mako Surgical in December 2013. Fast forward to 2019, and it’s been a busy year in terms of healthcare robotics investments and mergers and acquisitions (M&As).

The first acquisition that comes to mind is Johnson & Johnson buying Auris Health for $3.4 billion. The deal includes an additional $2.35 billion in milestone-based contingent payments, so the total value of the deal could reach approximately $5.75 billion when all is said and done.

Auris is surgical robotics pioneer Dr. Fred Moll’s newest robotic surgical play. The acquisition is one of the 10 largest VC-backed, private M&As of all-time and is both the largest robotics and largest medtech private M&A deal in history. Kiva Systems previously held the title for largest robotics acquisition when it was purchased by Amazon for $775 million.

Below is a recap of the major healthcare robotics M&As of 2019.

AcquirerAcquiredDateAmountCoverage
J&JAuris HealthFebruary 13$3.4BRead Story
SiemensCorindus Vascular RoboticsAugust 8$1.1BRead Story
Smith & NephewOsiris TherapeuticsMarch 12$660M
StrykerMobius Imaging, Cardan RoboticsSeptember 4$500MRead Story
StrykerOrthospaceMarch 14$220MRead Story


About The Author

Steve Crowe

Steve Crowe is Executive Editor, Robotics, WTWH Media, and chair of the Robotics Summit & Expo and RoboBusiness. He is also co-host of The Robot Report Podcast, the top-rated podcast for the robotics industry. He joined WTWH Media in January 2018 after spending four-plus years as Managing Editor of Robotics Trends Media. He can be reached at scrowe@wtwhmedia.com

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