Orthopedic implant maker Stryker made its $1.7 billion purchase of robotic surgical player Mako in December 2013. Now, rival Smith & Nephew is making its own move into robotic-assisted orthopedic surgery with a bid to acquire partner Blue Belt Technologies for $275 million.
Stryker detailed its robotic surgery plans during its Q3 earnings calls as it prepares for the commencement of total knee replacements on the Mako robot. The launch of the new Mako application will commence later this year, ramping up slowly and reaching full speed toward the end of 2016.
Stryker notched a win in its ongoing patent battle with Zimmer Biomet Holdings, as the U.S. Supreme Court agreed to hear the company's case for tripling its $70 million award from Zimmer for infringing patents for one of its orthopedic devices.
Stryker is closing a North Charleston, SC, facility that makes operating room equipment by the end of the year.
Stryker is recalling 16,992 units of 5 orthopedic devices of the arm because their packaging might be compromised during transportation. Specifically, the packaging's sterile barrier might be affected by the problem, according to the FDA's recall database.
Stryker announced that is has received FDA clearance to use its Mako robotic surgery system during total knee construction procedures, as it seeks to capitalize on its $1.65 billion acquisition of Mako Surgical in 2013.
Stryker reiterated that acquisitions are its top priority for cash. But so far during the first half of this year, the orthopedics giant has spent a mere $92 million of its cash on acquisitions--while accruing an additional $1.8 billion in cash to sit on a pile of a whopping $3.6 billion in cash at the end of last quarter.
Stryker has only disclosed plans for two acquisitions this year--both for private, international, hospital bed makers. The latest is an all-cash deal for Turkish hospital bed, stretcher and patient room furniture and accessory maker Muka, which is headquartered in Kayseri, Turkey.
Price checks by India's National Pharmaceutical Pricing Authority on certain orthopedic implants have once again raised hackles by companies concerned they are being swept up in a law that was not meant for their industry, Business Standard reports.
The former CEO of orthopedics company OtisMed, Charlie Chi, was sentenced to two years in prison. He will also face a year of supervised release and a $75,000 fine, all for distributing the OtisKnee cutting guide after the FDA denied its 510(k) application.