Stryker invests about $400m in CMR Surgical, maker of the Versius surgical robot, and takes an exclusive option to buy the rest

On 12 October Stryker announced a strategic alliance with CMR Surgical, the British maker of the Versius soft-tissue surgical robot. Its release describes a strategic equity investment of approximately $400 million (£300 million) by Stryker, with an exclusive option to acquire the rest of CMR's equity later. The deal is subject to regulatory approvals and customary closing conditions, and no timing for using the option was disclosed.

The Robot Report reported that Stryker becomes the exclusive US sales agent for the Versius range, while CMR leads sales elsewhere, and that Versius Plus has US FDA 510(k) clearance for gallbladder removal. CMR says the robot has been used in 45,000 operations in more than 30 countries; that is the company's own count.

Andy Pierce, Stryker's group president for medsurg and neurotechnology, said: “Soft-tissue robotics is a high-growth adjacency and a natural extension of Stryker’s strengths in endoscopy”.

The deal gives Stryker a soft-tissue surgical platform without buying CMR outright for now, and puts Versius into the US market through Stryker's sales force. For hospitals, it means another large medical-device maker selling a soft-tissue surgical robot in the US; for CMR, it means a buyer-in-waiting with a fixed route to the biggest market.

• Confirmed Stryker makes a strategic equity investment of about $400m (£300m) in CMR Surgical, with an exclusive option to acquire the remaining equity. Stryker
• Reported Stryker becomes the exclusive US commercial agent for Versius, The Robot Report reported. The Robot Report
• Claimed CMR says Versius has been used in 45,000 cases in more than 30 countries. The Robot Report