Stryker Corp. has completed its previously announced $1.7 billion acquisition of Mako Surgical Corp. and its cutting-edge robotic arm assisted orthopaedic surgery technology, Stryker confirmed Tuesday.
The goal is to combine Mako's "expertise in robotic arm assisted surgery with Stryker's innovations in joint reconstruction to further advance the growth of this compelling technology," says Kevin Lobo, Stryker's president CEO.
"The long-term potential offered by this technology platform holds the promise of transforming reconstructive surgery, increasing patient satisfaction and enhancing the experience for surgeons and hospitals," Lobo said in a news release.
The exact price was $1.68 billion, or $30 per share of Mako stock, according to a Stryker SEC filing. The price per share is about double what Mako stock was trading at before the deal was first announced in late September.
Mako's MAKOplasty robotic procedures are available for both partial knee resurfacing and total hip arthoplasty.