Stryker said its Mahwah, N.J.-based orthopedics division won 510(k) clearance from the FDA for the Mako hip system, which is designed to be compatible with all of Stryker’s hip implants.
"Combining the Mako system’s proprietary robotic-arm technology with Stryker’s market-leading implants allows us to evolve the platform to enhance patient outcomes. This advancement reflects our conviction that this technology will transform joint reconstruction surgery," reconstructive division president Bill Huffnagle said in prepared remarks.
Stryker initially struggled to digest its $1.7 billion acquisition of Mako, which closed in December 2013. But the business turned around during the 4th quarter last year, when Stryker sold 20 Mako systems into hospitals during the 3 months ended Dec. 31 – a 150% increase over Q3 and more than were sold during the previous 3 quarters combined.
Earlier this month Stryker revealed plans for a share buyback worth up to $2 billion, making another long-rumored tie-up – with rival Smith & Nephew (NYSE:SNN) – less likely.