Stryker has agreed to pay roughly $1.65 billion to purchase Mako Surgical, maker of robot-aided devices used in orthopedic surgery. The deal would allow Stryker to gain a competitive edge over rival orthopedic-implant manufacturers and could spark a round of acquisitions in the medtech sector, analysts said.
Biosearch Technologies has bought a majority stake in LightSpeed Genomics for an undisclosed fee. LightSpeed is working on the Synthetic Aperture Optics technology, an optical detection device targeted at the diagnostics and life sciences markets.
Joseph Slattery, who most recently served as chief financial officer at Baxano, has been named CFO of SafeStitch Medical. Baxano has tapped Tim Shannon, a former finance executive at Talecris Biotherapeutics, to replace Slattery as its CFO on an interim basis.