As part of its ongoing efforts to diversify into the growing market for hospital services, Stryker ($SYK) announced it will partner with Samsung unit NeuroLogica to sell a full-body portable computed tomography (CT) scanner. The two companies will market the device for use by surgeons in the fields of neurology, orthopedics and trauma, according to a press release from Stryker.
The plan, the companies say, is to integrate NeuroLogica's device, called BodyTom, with Stryker's NAV3i Surgical Navigation Platform, an imaging system designed to improve the ability to guide surgical instruments during minimally invasive procedures.
"We are excited to partner with NeuroLogica to provide streamlined and integrated surgical solutions to our customers that will enhance the surgeon experience and simplify the purchasing process for hospitals," said Derek Babin, director of marketing for Stryker Navigation, in the release.
The Samsung deal comes close on the heels of Kalamazoo, MI-based Stryker's Dec. 17 acquisition of Mako Surgical ($MAKO) for $1.7 billion. Stryker CEO Kevin Lobo so coveted the maker of robot-assisted surgical devices that he was willing to pay an 86% premium over Mako's predeal share price.
Then, on Jan. 2, Stryker continued its diversification bid by buying Patient Safety Technologies for $120 million--a 50% premium over its share price. Patient Safety markets a line of bar-coded traceable sponges designed to ensure that surgeons don't accidentally leave surgical sponges inside of patients.
Investors seem to be coming around to Stryker's increasing presence in the hospital market. The company's stock has risen 10% to $75.35 since late September, when shareholders initially balked at the Mako deal.
- here's the release