Last year we predicted that, after a busy 2016, Stryker Corporation (NYSE: SYK), the Michigan-based medical device giant, would have a quiet 2017 as it integrated its new product lines. Little surprise then, that more than six months into 2017, the company just announced its first deal of the year.

On June 19, 2017, Stryker bought NOVADAQ Technologies Inc. (NASDAQ: NVDQ) for $11.75 per share, or an equity value of approximately $701 million. NOVADAQ develops, manufactures and markets fluorescence imaging products for use by surgeons in the operating room and other clinical settings in the United States and internationally.

The acquisition aligns with Stryker’s focus on enhancing cross-specialty surgical visualization. NOVADAQ’s technology complements Stryker’s advanced imaging portfolio and expands its product offerings into open and plastic reconstructive surgery. NOVADAQ’s technology can reduce post-procedure complication rates and the cost of care for a broad variety of surgical treatments.

The acquisition was a change of pace from 2016’s deal making, which mainly added to its portfolio of minimally invasive systems used in vertebroplasty and vertebral augmentation procedures.  In 2016, deal making started as early as February. That month, it announced three deals, totaling $2.03 billion.

In April, three more acquisitions were announced, with only one disclosed price of $40.6 million. Halfway through September, the company made two more acquisitions, for undisclosed prices, coming to eight deals for approximately $4.1 billion. Stryker also sought out publicly traded companies that were looking to shed unwanted divisions from previous acquisitions.

All this activity followed a very quiet 2015. If Stryker continues this trend, we don’t expect it to make many more headlines in 2017, but stayed tuned for an active 2018.