Stryker (SYK) will acquire MAKO Surgical Corp. to the tune of about $1.65 billion.
“MAKO has established a compelling technology platform in robotic assisted surgery which we believe has considerable long term potential in joint reconstruction,” said Kevin A. Lobo, Stryker president and CEO, said in the release. “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.”
J.P. Morgan is acting inancial advisor and Wachtell, Lipton, Rosen & Katz and Foley & Lardner LLP are acting as legal advisors to MAKO.
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According to Benzinga, Wells Fargo Securities analyst Larry Biegelsen underscored an “outperform” rating on Stryker.