Stryker rises after announcing alliance with CMR Surgical to enter soft-tissue robotics market

By Reuters News

** Medical device maker Stryker's SYK.N shares rise more than 1% to $280.87

** Co forms strategic alliance with UK-based CMR Surgical to grow in robotic-assisted surgery

** SYK to invest about $400 mln in preferred equity in CMR, entering the fast-growing soft-tissue robotics market

** SYK becomes exclusive US sales agent for CMR's Versius robots; CMR keeps development and sales outside the US

** Deal includes exclusive option for SYK to buy all of CMR later

** 25 of 30 brokerages rate SYK "buy" or above, 5 "hold"; median PT is $367.50 - data compiled by LSEG

** Including session's moves, stock down 20% YTD

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