US-based Stryker has announced a definitive agreement to acquire the medical device company Mako Surgical for $30.00 per share in cash with an aggregate purchase price of around $1.65bn.
The acquisition is subject to customary closing conditions, including Mako Surgical’s stockholder approval.
Stryker president and CEO Kevin A. Lobo noted Mako Surgical has established a compelling technology platform in robotic assisted surgery which the company believes has considerable long term potential in joint reconstruction.
"The acquisition of MAKO combined with Stryker’s strong history in joint reconstruction, capital equipment (operating room integration and surgical navigation) and surgical instruments will help further advance the growth of robotic assisted surgery.
"Our combined expertise offers the potential to simplify joint reconstruction procedures, reduce variability and enhance the surgeon and patient experience. We look forward to welcoming the MAKO team to Stryker," added Lobo.
Mako Surgical president and CEO Dr Maurice R Ferre noted the combination of Stryker’s established industry leadership with Mako Surgical’s innovative products and people contains the power to positively transform orthopedics.
"It is with this in mind that MAKO’s board of directors unanimously voted to recommend that MAKO’s shareholders vote in favor of it," Dr Ferre added.