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Strategic Initiatives

Medtronic to Acquire Mazor Robotics -

Medtronic entered into a definitive agreement to acquire Mazor Robotics for US $1.64BB in cash in a transaction that is slated to close in January 2019. For 2017, Mazor posted revenue of ~$65.0MM, +78.7% vs. 2016. The announcement is not surprising, given their relationship that began in 2016 with a multi-phase commercial agreement for co-promotion, co-development and exclusive global distribution of certain Mazor products, as well as an equity investment in Mazor by MDT. This led to >80 installations of the Mazor X™ Robotic Guidance platform for spine surgery since the system's launch in 2016. The partnership pairs Mazor's guidance tools with Medtronic's implants, navigation and imaging technologies. (Medtronic, 9/20/18)