US-based medical device company Stryker has signed a definitive agreement to acquire Care.ai, an AI-based tool for hospitals.
The Florida-based startup offers a range of AI-based solutions including virtual care, patient monitoring, and smart care facility platforms. This includes its Always-Aware Ambient Sensors, which monitor hospital rooms and patients to prevent falls and avoid pressure injuries. The alerts can run on the care team’s smartphones.
Stryker has not disclosed the cost of the acquisition, and the transaction is subject to customary closing conditions.
Stryker said Care.ai will strengthen its growing health IT offering and portfolio of wirelessly connected medical devices. In January 2022, Stryker signed a $3bn deal to acquire Vocera Communications, kickstarting its reach into communication and workflow platforms for hospitals. The medical device company said that care.ai adds complementary technology that will integrate seamlessly with the Vocera platform and its other devices.
In a 30 July earnings call, Stryker CEO Kevin Lobo told investors to expect a “very active deal pipeline” for the second half of this year. The company has been very active in M&As this year, picking up two companies last month. Stryker closed its deal to acquire soft tissue fixation company Artelon, which specialises in foot, ankle and sports medicine procedures, as well as breast cancer care company MOLLI Surgical.
Earlier this year, Stryker finalised its acquisition with Serf SAS, a French manufacturer of joint replacement hardware; and mfPHD, a Texas-based developer of modular stainless steel wall systems for hospitals and ambulatory surgery centres.
Stryker MedSurg and neurotechnology group president Andy Pierce said: “This acquisition underscores our commitment and focus on our customers. care.ai will help Stryker significantly accelerate our healthcare IT and digital vision to provide customers with real-time, smart and connected decision-making tools that enhance the lives of caregivers and their patients.”
