Consolidation in the medical device segment of health care continued Wednesday as Stryker Corp., said it will pay $1.65 billion to buy MAKO Surgical Corp.
Stryker is based in Kalamazoo, Mich., but sells nationally and competes with Johnson & Johnson's Synthes/DePuy division among others. Synthes was based in West Chester until it was bought by J&J for $19.7 billion.
MAKO was founded only in 2004 and is based in Fort Lauderdale, Fla. Most of its acclaim within the industry was around its robotic devices used by surgeons.
"MAKO has established a compelling technology platform in robotic assisted surgery which we believe has considerable long term potential in joint reconstruction," Stryker Chief Executive Officer Kevin A. Lobo said in a statement. "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."