Medtronic Completes $20MM Second Tranche Investment in Mazor Robotics
Medtronic (MDT) completed the second tranche of equity investment in Mazor Robotics (MZOR), as laid out in a previously-executed agreement.
The event was triggered by MZOR's introduction of the Mazor X Surgical Assurance Platform, designed to support predictability of spine procedures. MDT has placed an order for 15 Mazor X systems.
Sources: Mazor Robotics Ltd., ORTHOWORLD Inc.
The announcement of the MDT/MZOR transaction was followed months later by Zimmer Biomet's plans to acquire Medtech’s ROSA Spine robotic-assistive device for ~$130 million.
MDT/MZOR and Zimmer Biomet are larger names in a field that is expected to reflect more players. Globus Medical plans to launch robotic assistance products in the coming year; NuVasive has mentioned interest in the space and KB Medical received approval under the CE Mark for its AQrate™ Robotic Assistance system in 2Q16.