* Stryker to pay $30/Mako share, 86 pct premium to last close

* Deal to hurt Stryker's adj EPS by $0.10-$0.12/shr

(Adds details, stock movement)

Sept 25 (Reuters) - Medical device maker Stryker Corp

SYK.N will buy smaller peer Mako Surgical Corp MAKO.O for about $1.65 billion to gain access to Mako's technology for robot-assisted orthopedic surgery.

Stryker will pay $30 per Mako share in cash. ID:nGNXUYTQEa

ID:nHUGtRfz4a Mako shares were trading up 83 percent at $29.60 in premarket trade, just shy of the offer price.

Mako, founded in 2004, makes orthopedic surgical systems and knee and hip implants for treating early to mid-stage osteoarthritis.

Its Rio surgical system includes a robotic arm that helps surgeons with precise and accurate insertion of orthopedic implants.

The deal is expected to hurt Stryker's adjusted earnings per share, excluding acquisition and integration-related charges, by about 10 cents to 12 cents in the first full year.

This is Stryker's second deal this year. It acquired Hong Kong-based Trauson Holdings Co Ltd 0325.HK for $764 million in March.

Stryker makes devices related to orthopedics, spine and endoscopy as well as surgical instruments and implants. It also makes software packages to help surgeons.

"The acquisition of Mako combined with Stryker's strong history in joint reconstruction, capital equipment and surgical instruments will help further advance the growth of robotic assisted surgery," Stryker CEO Kevin Lobo said in a statement.

J.P. Morgan was financial adviser to Mako. Wachtell, Lipton, Rosen & Katz and Foley & Lardner LLP were legal advisers.

Stryker was advised by Citigroup, while Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel.

(Reporting by Esha Dey in Bangalore; Editing by Sreejiraj Eluvangal)

((esha.dey@thomsonreuters.com)(within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1130)(Reuters Messaging: esha.dey.thomsonreuters.com@reuters.net))

Keywords: MAKOSURGICAL OFFER/STRYKER