Medtronic to acquire Israeli medical device company Mazor Robotics

Medtronic acquisition of Mazor Robotics : Irish medical device company Medtronic has signed a deal of around $1.64 billion to acquire Mazor Robotics, an Israeli medical device company, focused on manufacturing robotic guidance systems.

Mazor Robotics provides spine and brain surgery with its Mazor X robotic guidance system and Renaissance surgical guidance system.

Medtronic acquisition of Mazor Robotics

The robotic assisted guidance systems of the Israeli medical device company combined with the spine implants, navigation, and intra-operative imaging technology of the Irish medical device company, is expected to result in a wholly-integrated procedural solution for surgical planning, execution and confirmation.

Geoff Martha, executive vice president and president of the Restorative Therapies Group at Medtronic, commenting on Medtronic acquisition of Mazor Robotics, said: “We believe robotic-assisted procedures are the future of spine surgery, enhancing surgeons’ abilities to perform complex procedures with greater precision, consistency and control. Medtronic is committed to accelerating the adoption of robotic-assisted surgery and transforming spine care through procedural solutions that integrate implants, biologics and enabling technologies.

“The acquisition of Mazor adds robotic-assisted guidance systems to our expanding portfolio of enabling technologies, and we intend to further cultivate Mazor’s legacy of innovation in surgical robotics with the site and team in Israel as a base for future growth.”

Medtronic acquisition of Mazor Robotics. Photo courtesy of Medtronic.

Mazor Robotics has bagged over 15 approvals from the US Food and Drug Administration for its core technologies.

Medtronic acquisition of Mazor Robotics will enable the Irish medical device company to provide advanced technologies for spine surgery and also in marketing the technologies of the Israeli medical device company in the global market.

According to the terms of the Medtronic acquisition of Mazor Robotics, the Irish medical device company has agreed to pay $58.5 per American Depository Share or $29.25 per ordinary share in cash to shareholders of Israeli medical device company.

Commenting on Medtronic acquisition of Mazor Robotics, Ori Hadomi – CEO of Mazor Robotics, said: “Today is a historic day for spine surgery and a defining event in the market’s evolution, and I want to acknowledge and thank all of those whose contribution and faith have been so critical and impactful to our success.

“The Mazor team and product portfolio’s full integration into Medtronic will maximize our impact globally through Medtronic’s channels, advance our systems’ leadership position in the marketplace, and drive the realization of our vision to heal through innovation.”

Medtronic acquisition of Mazor Robotics follows a multi-staged strategic partnership In May 2016, with the Irish medical device company making equity investments in the Israeli medical device company. In August 2017, Medtronic extended its partnership further by becoming an exclusive distributor of the Mazor X robotic guidance system.

Medtronic acquisition of Mazor Robotics is anticipated to be wrapped up in the third fiscal quarter of the Irish medical device company, based on meeting of customary closing conditions.