Stryker’s Q Guidance System aims to deliver surgical spine planning and navigation capability through multiple tracking options, sophisticated software algorithms and smart instrumentation. The Spine Guidance Software is the first spine navigation software to receive clearance from the FDA for use with pediatric patients aged 13 and older. The system, when used with the Spine Guidance Software, is an advanced planning and intraoperative guidance system designed to enable open or percutaneous computer-assisted surgery. "We'll continue to be a disciplined acquirer, but we, right now don't see any change in our capital allocation philosophy given the robust pipeline that we currently have.Stryker announced that its Q Guidance System, intended for spine applications, received FDA 510(k) clearance. Valuation is always a challenge, especially in recent years, and Lobo said valuation is the number one reason Stryker does walk away from deals. "We still have a very robust pipeline across our divisions of active targets," Lobo said during the second-quarter earnings call. Lobo reaffirmed during its most recent earnings call that acquisitions continue to be a priority and that over the past several years more than 50% of Stryker's cash usually gets deployed on acquisitions. We've been able to offset Novadaq, Entellus, K2M, deal after deal that are high-growth deals that have dilution, we've been able to offset." As you've seen we are very committed to operating margin expansion.
"And then we'll look at the related dilution and figure out whether we can offset it or not. "As it relates to dilution, once we see an asset that we think will be really value-creating for Stryker, we're going to want to do that deal," Lobo said. "Well, as you know the nature of M&A is inherently unpredictable," CEO Kevin Lobo said during an earnings call earlier this year, adding that M&A would continue to be Stryker's primary planned use of cash. Stryker hit the M&A trail hard last year but has been a bit more chill this year on deal activity, with a few exceptions.Īlthough Stryker has been relatively quiet this year on the M&A trail, the company has never been one to shy away from a good deal. The acquisition, slated to close in the fourth quarter, is not expected to impact Stryker's net earnings in 2019. "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," said Spencer Stiles, president of Stryker's orthopedics and spine group. Its Airo TruCT scanner is considered a best-in-class mobile, real-time, diagnostic-quality CT imaging system, Stryker said.Ĭardan Robotics, founded in 2015, is developing robotics and navigation technology systems for surgical and interventional radiology procedures. Mobius Imaging, founded in 2008, is focused on integrating advanced imaging technologies into the workflow, which is intended to enhance a clinician's ability to obtain high-quality images. The all-cash transaction, which consists of $370 million upfront and up to $130 million of contingent payments tied to development and commercial milestones, gives Stryker an immediate entry into the intra-operative imaging segment and aligns with the Kalamazoo, MI-based company's implant and navigation offerings. Stryker agreed to acquire Mobius Imaging and its sister company, Cardan Robotics, for up to $500 million.
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