KALAMAZOO — Stryker Corp. said today it has signed a definitive agreement to acquire Mobius Imaging LLC, a Massachusetts-based advanced imaging technology company for about $370 million in cash.
The all-cash deal for Mobius Imaging includes sister company GYS Tech LLC that’s developing surgical robotic systems, according to a statement. Under the terms of the deal, Stryker (NYSE: SYK) could pay another $130 million in contingent payments tied to development and commercial milestones.
“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,” Spencer Stiles, Stryker’s group president for orthopedics and spine, said in a statement.
Mobius Imaging, founded in 2008, is focused on integrating advanced imaging. Stryker expects the acquisition to close in the fourth quarter.