Stryker said Monday it has reached an agreement to acquire Care.ai, a company that offers artificial intelligence-based tools for hospitals. The Orlando, Florida-based startup makes patient monitoring, virtual rounding and AI-assisted decision support tools based on a network of sensors.
Stryker did not immediately respond to questions about the price or timing of the acquisition.
The acquisition comes about two weeks after Stryker CEO Kevin Lobo forecast a “very active deal pipeline” for the second half of the year.
Stryker said Care.ai will strengthen its growing health IT offering and portfolio of wirelessly connected medical devices. In 2022, Stryker bought Vocera Communications for $2.97 billion, giving it an entry into communication and workflow platforms for hospitals. The company expects Care.ai to integrate with its Vocera platform and devices.
“This growing segment is of increasing importance as Stryker’s customers continue to face nursing shortages, employee retention challenges, overworked and cognitively burdened staff, and a rise in workplace safety concerns,” the company said in a statement.
The acquisition is subject to customary closing conditions.
The Care.ai pickup continues Stryker’s recent run of tuck-in M&A. The orthopedics company agreed in June to buy Artelon, which makes soft tissue repair technology, and announced in December a deal to acquire the joint replacement company Serf Sas. Stryker did not disclose financial terms for either deal.