Stryker To Buy MAKO Surgical For $1.65 Bln - Quick Facts

(RTTNews) - Medical technology firm Stryker Corp. (SYK) would acquire all the outstanding shares of MAKO Surgical Corp. (MAKO) for $30.00 per share cash, for an aggregate price of about $1.65 billion.

According to Kevin Lobo, President and Chief Executive, "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."

The transaction is subject to customary closing conditions, including MAKO stockholder approval. J.P. Morgan is acting as financial advisor and Wachtell, Lipton, Rosen & Katz and Foley & Lardner LLP are acting as legal advisors to MAKO.