Stryker (NYSE: SYK) announced a strategic alliance with CMR Surgical that includes an approximately $400 million (£300 million) preferred equity investment in the Cambridge, England-based robotics company, along with an exclusive option to acquire 100% of CMR Surgical's outstanding equity in the future.

As part of the agreement, Stryker will serve as the exclusive U.S. sales agent for CMR Surgical's Versius surgical robotic portfolio. CMR Surgical will retain responsibility for portfolio development and commercialization in markets outside the United States.

The investment is subject to regulatory approvals and customary closing conditions. Terms of the exclusive acquisition option were not fully disclosed.

Andy Pierce, Group President of Medsurg and Neurotechnology at Stryker, said the company had evaluated the soft-tissue robotics segment for years before entering the alliance. "We selected CMR Surgical and the Versius portfolio because of the opportunity to help healthcare providers grow robotic-assisted surgery adoption across a broad range of procedures in hospitals and ASCs," Pierce said. He will also join CMR Surgical's board of directors.

Massimiliano Colella, Chief Executive Officer of CMR Surgical, said the investment will support continued global expansion of the Versius portfolio. CMR Surgical, founded in 2014, is a privately held company headquartered in Cambridge, England.

The Versius platform is a modular, soft-tissue surgical robotic system designed to support a range of minimally invasive procedures. CMR Surgical states the system is built to integrate into existing operating room workflows.