Medtronic and Mazor will Tie the Knot in a $1.6B Deal

Medtronic made a big move back in May 2016 by inking a major multi-phased strategic and equity investment agreement with Mazor Robotics. Today the pair made that relationship even more official by announcing that Medtronic will acquire Mazor. The cash deal is valued at about $1.64 billion, or $1.34 billion net of Medtronic's existing stake in Mazor and cash acquired. Considering Mazor's revenue took a big hit in the second quarter due to lower pricing under its agreement with Medtronic, the acquisition is easily a win-win for both companies. It's also no coincidence that the deal was unveiled just days before the annual North American Spine Society (NASS) meeting in Los Angeles. Medtronic and Mazor have been working to integrate Medtronic's spine implants, navigation, and intra-operative imaging technology with Mazor's robotic-assisted surgery systems. The result, a fully-integrated procedural solution for surgical planning, execution, and confirmation, will be showcased at NASS. "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," said Geoff Martha, executive vice president and president of the Restorat...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Orthopedics Source Type: news