KALAMAZOO, MI — Stryker Corp. has completed its $1.65 billion acquisition of MAKO Surgical Corp.”We’re excited to welcome MAKO into our organization and combine their expertise in robotic arm assisted surgery with Stryker’s innovations in joint reconstruction to further advance the growth of this compelling technology,” Kevin Lobo, president and chief executive officer of the Kalamazoo-
based medical device maker, announced Dec. 17 in a statement.
“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.
Founded in 2004, MAKO is considered a pioneer in the advancement of robotic-assisted surgery in orthopedics. Stryker in September announced its intent to purchase the company, which is based in Fort Lauderdale, Fla., has more than 400 employees and reported total revenue of more than $100 million in 2012.
On Dec. 13, MAKO stockholders voted in favor of the merger. Shareholders will receive $30 per share in cash, according to a filing with the Securities and Exchange Commission.
Stryker is one of the world’s leading medical technology company. It manufactures a wide range of products, including reconstructive, surgical, neurotechnology and spine products, as well as patient-care products such as hospital beds and transport gurneys.