Stryker invests $400 million in CMR Surgical

Stryker this week said it had invested about $400 million in CMR Surgical, with an exclusive option to acquire the remaining stake in the company. Stryker also secured an exclusive commercial agency agreement in the United States for the Versius portfolio.

“This strategic alliance represents a significant milestone for CMR and a strong endorsement of the technology, clinical expertise and global business we have built,” said Massimiliano Colella, CEO of CMR Surgical. “Stryker’s investment will give us additional strength to accelerate innovation and continued global expansion of the Versius portfolio, while its scale and deep customer relationships will create a significant growth opportunity in the United States.”

CMR Surgical, based in Cambridge, UK, said it designed the Versius platform for real-world operating environments. The surgical robot’s modular architecture supports flexibility across procedures, surgeon access and locations of care, the company said.

CMR Surgical obtains authorization for additional procedures

CMR Surgical said Versius can help healthcare providers increase the adoption of robotics within existing operating room workflows. This scalable approach can help health systems meet growing demand for robot-assisted surgery while preserving operational flexibility and supporting long-term program economics, the company added.

Versius supports procedures including general surgery, colorectal surgery, urology, gynecology and thoracic surgery. According to CMR, the robot has been adopted in hospitals in more than 30 countries and used in 45,000 cases worldwide.

The Versius Plus System has received FDA 510(k) clearance for cholecystectomy. CMR also filed a 510(k) application for benign gynecological indications. The robot has been used in 45,000 cases worldwide, he said.

Stryker will sell the Versius system in the United States

“Soft tissue robotics is an adjacent high-growth area and a natural extension of Stryker’s strengths in endoscopy, visualization and enabling technologies,” said Andy Pierce, president of Stryker’s medsurg and neurotechnology group.

“We have carefully evaluated the segment for years and this alliance represents a thoughtful and disciplined entry that brings together the complementary strengths of both companies,” he added. “We selected CMR Surgical and the Versius portfolio for the opportunity to help healthcare providers grow the adoption of robot-assisted surgery across a broad range of procedures in hospitals and ASCs.”

“We are also eager to welcome Andy Pierce to our board of directors and benefit from his more than 30 years of MedTech leadership experience at Stryker as we continue to expand access to robot-assisted surgery globally,” Colella said.

Going forward, Stryker will serve as the exclusive U.S. sales agent for the Versius portfolio, while CMR Surgical will continue to lead the development and commercialization of the portfolio in markets outside the United States.

Stryker’s exclusive acquisition option gives it the ability to purchase 100% of the working capital of CMR Surgical in the future, subject to the terms of the agreement. This transaction is subject to regulatory approvals and customary closing conditions.