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Stryker to acquire medical tech companies Mobius Imaging, Cardan Robotics

Stryker Corp. agreed to acquire Mobius Imaging LLC and its sister company GYS Tech LLC for up to $500 million in cash.

Mobius Imaging is a Shirley, Mass.-based technology company that provides healthcare practitioners with medical imaging services that aid in surgical procedures. GYS Tech, which does business as Cardan Robotics, develops technologies for surgical assistance.

Under the deal, Stryker will acquire Mobius Imaging and GYS Tech for about $370 million up front and up to $130 million in development and commercial milestone payments.

Kalamazoo, Mich.-based Stryker said the acquisition will support its spine division's immediate entry into the intraoperative imaging segment. The deal will be immaterial to the company's 2019 net earnings.

The transaction is subject to closing conditions and is anticipated to close in the fourth quarter.