Stryker to invest $400M in CMR Surgical, with an option to buy it
Stryker agreed to make a preferred equity investment of about $400 million in UK surgical robotics maker CMR Surgical. The stake gives Stryker an exclusive option to acquire all of CMR's equity later. Stryker would become the exclusive US sales agent for the Versius soft-tissue robot, while CMR keeps development and commercialization outside the US. The deal is subject to regulatory approvals and customary closing conditions.
Why it's notable: It gives Stryker a route into soft-tissue robotic surgery, a market it has not served, where Intuitive dominates and Medtronic and J&J are building entrants. Hospitals weighing robot purchases may see another large vendor in the field.