Stryker’s Acquisition of Care.ai

Stryker announced on Monday that it has reached an agreement to acquire Care.ai, a company specializing in artificial intelligence-based tools for hospitals. Based in Orlando, Florida, Care.ai develops patient monitoring, virtual rounding, and AI-assisted decision support tools utilizing a network of sensors.

While Stryker has not disclosed the price or timing of the acquisition, this move is seen as a significant step in enhancing its health IT offerings.

The acquisition follows a recent forecast by Stryker CEO Kevin Lobo, who indicated a “very active deal pipeline” for the latter half of the year.

Stryker believes that integrating Care.ai will bolster its portfolio of wirelessly connected medical devices. In 2022, Stryker acquired Vocera Communications for $2.97 billion, marking its entry into communication and workflow platforms for hospitals. The company anticipates that Care.ai will seamlessly integrate with its Vocera platform and devices.

As Stryker’s customers grapple with nursing shortages, employee retention challenges, and rising workplace safety concerns, the company stated, “This growing segment is of increasing importance.”

The acquisition is subject to customary closing conditions.

This move continues Stryker’s trend of tuck-in M&A, having previously agreed to buy Artelon in June, a company focused on soft tissue repair technology, and announced a deal in December to acquire the joint replacement company Serf Sas. Financial terms for these deals have not been disclosed.

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