MassDevice: Will The Stryker-MAKO Deal Lead To More Action In Ortho?

Stryker (NYSE:SYK) certainly found a way to liven up the ortho space, with Wednesday's announcement that it is buying Mako Surgical (NSDQ:MAKO) for a whopping 13 times 2013 estimated revenue. Stryker had been pretty clear about its intentions to put cash towards M&A, and Stryker's relative challenges in knees were already known, but few industry-watchers saw this deal coming, and certainly not at this price.

Over time, I think Stryker could do a lot with Mako. Obviously Stryker's management thinks so too, or they wouldn't have paid so much for it. What I'm interested to see now, though, is whether this move leads to any sort of consolidation push in the ortho industry and/or whether Stryker+Mako will fundamentally alter the balance of power in major joint recon and push the likes of Johnson & Johnson (NYSE:JNJ) and Zimmer (NYSE:ZMH) to up their games.

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http://www.massdevice.com/blogs/brad-perriello/will-stryker-mako-deal-lead-more-action-ortho

Seeking Alpha: MAKO Surgical Gets Its Happy Ending

While many bullish analysts and investors had previously mentioned the possibility of MAKO Surgical (MAKO) receiving an attractive buyout bid, the reality proved even better than expected. On Wednesday morning, MAKO and Stryker (SYK) announced that the two companies had agreed on a deal that will see Stryker buy MAKO for $30 share in cash - a $1.65 billion deal that exceeded the highest sell-side price target on MAKO by 15%.

With only scant odds that a rival bidder will top Stryker's offer, the MAKO story comes to a relatively happy conclusion. What's more, Stryker would seem to be an ideal partner to grow MAKO's business and maximize the potential of the robot-assisted makoplasty concept.

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MAKO Surgical Gets Its Happy Ending

Seeking Alpha: MAKO Surgical - Rebuilding Credibility, But They Need To Rebuild More Knees

When I last wrote on MAKO Surgical (MAKO), I thought investors would be well-served by slowly building a multi-part position. With the stock up 38% since that piece (and 43% over the last three months), I'm feeling relatively good about that call. What's more, MAKO management has helped itself and rebuilt some credibility with the Street when it comes to guidance and financial performance. With the shares back in the mid-teens, it's going to take better utilization numbers for me to get more excited about the shares, and the trend there is not nearly so positive.

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MAKO Surgical - Rebuilding Credibility, But They Need To Rebuild More Knees

Investopedia: Is Controversy About Robot-Assisted Surgery Showing Up In Intuitive Surgical's Numbers?

There has always been controversy around Intuitive Surgical (Nasdaq:ISRG) and its daVinci robotic surgical system. In recent months this controversy has reignited over allegations that device malfunctions/adverse events are increasing and that the system is little more than an expensive, unnecessary toy in procedures like minimally invasive hysterectomy. Making matters worse, this has long been an expensive stock where success has been predicated on double-digit growth in minimally invasive surgery and Intuitive's share in the market.

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http://www.investopedia.com/stock-analysis/041913/controversy-about-robotassisted-surgery-showing-intuitive-surgicals-numbers-isrg-cov-jnj-syk-mako.aspx

MassDevice: When It Comes To Robots, Opinions Run Hot

Robots may not have emotions, but that's certainly not the case when it comes to the investors, doctors, and other associated people who are involved in the surgical robotics market. From promises that robots open up new avenues in surgery that are better and more comfortable for patients to accusations that robots are dangerous and unnecessary, it often feels like the middle ground is perilously thin these days. While the utilization rates don't point to robots disappearing anytime soon, investors in Intuitive Surgical (NSDQ:ISRG) and Mako Surgical (NSDQ:Mako) are likely looking at plenty of volatility and debate for years to come.

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http://www.massdevice.com/blogs/massdevice/when-it-comes-robots-opinions-run-hot

Seeking Alpha: A New Paper At JAMA Unlikely To Jam Up Intuitive Surgical

Intuitive Surgical (ISRG) has garnered ample attention for its daVinci surgical robots - both from investors who lust for Intuitive's revenue and earnings growth, and clinicians looking to either use or question the use of these surgical robots. A recent paper once again highlighted the obvious - robot-assisted surgeries cost more - but a closer look at the details of what the paper did, and did not, say suggests minimal incremental risk to Intuitive Surgical.

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A New Paper At JAMA Unlikely To Jam Up Intuitive Surgical

Seeking Alpha: MAKO's Performance Still Pretty "Meh"

Prior to its presentation at the annual JPMorgan Healthcare conference, MAKO Surgical (MAKO) released some limited information about its fourth-quarter results. While MAKO avoided the big miss that some investors had feared, and system placement performance was in line with expectations, utilization continues to be a meaningful concern for this company.

Q4 Data - Placements Okay, Procedures Less So
For the fourth quarter of 2012, MAKO Surgical reported that it had sold 15 RIO systems around the world, basically matching Wall Street expectations. While two of the sales were overseas and appear to have a meaningful deferred revenue recognition treatment, that's a quibble at this point. It's worth noting, though, that while this performance matched expectations, the full-year placement number of 45 was well below the guidance management gave a year-ago for 56-62 placements this year.

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MAKO's Performance Still Pretty "Meh"

Seeking Alpha: MAKO's Blood Is In The Water

When I wrote on MAKO Surgical (MAKO) in the wake of disappointing first quarter results, I mentioned an old wives tale that says med-tech companies miss in threes. Based on management's warning that second quarter results would come up short of lowered expectation, it looks we may have one more yet to go.

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MAKO's Blood Is In The Water