BUZZ - Stryker's stock rises after announcing a partnership with CMR Surgical to enter the soft tissue robotics market

October 12 - ** Medical device manufacturer Stryker (SYK.N) shares rose over 1% to $280.87

** The company has established a strategic alliance with UK-based CMR Surgical to expand its robotic-assisted surgery business

** SYK will invest about $400 million to purchase preferred shares of CMR, entering the fast-growing soft tissue robotics market

** SYK becomes the exclusive US distributor of CMR's Versius surgical robot; CMR will continue to handle R&D and sales outside the US

** The deal includes an exclusive option for SYK to acquire all remaining shares of CMR in the future

** Out of 30 brokerages, 25 gave SYK a “buy” or higher rating, 5 a “hold”; median target price is $367.50—data compiled by LSEG

** Including today’s movement, shares are down 20% year-to-date

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