Mazor Robotics (MZOR) reported 3Q17 revenue of US $17.2MM, +126.3% from 3Q16, and YTD revenue of $44.4MM, +99.1% vs. the prior year.
3Q17 | 3Q16 | $ Change | % Change | |
 Spine | $17.2 | $7.6 | $9.6 | 126.3% |
9Mo17 | 9Mo16 | $ Change | % Change | |
 Spine | $44.4 | $22.3 | $22.1 | 99.1% |
In the middle of 3Q, well ahead of the planned 1Q18 timeline, MZOR entered Phase II of its strategic partnership with Medtronic (MDT). The timeline was accelerated following higher than expected market acceptance and demand for the Mazor X surgical assistance platform, and early achievement of sales and marketing milestones by both companies.
MDT has now taken on exclusive global distribution of Mazor X and has made a $40MM third tranche investment in MZOR, for a total investment of $72MM, equaling up to 11.9% share ownership. MDT may purchase additional shares that could increase its investment to $125MM, with share ownership at 14.2%.
As of mid-4Q, MDT is handling capital and clinical sales, as well as support; 29 former MZOR employees are now part of MDT’s robotic sales team.
Mazor will continue to market its Renaissance surgical guidance system in small hospitals and ASCs, avoiding competition with Mazor X.
In just over one year of market availability, MZOR has received orders for 74 Mazor X systems. Globally, MZOR exited 3Q with more than 170 of its systems installed worldwide (all Mazor systems), which have supported over 200,000 implants placed in over 29,000 procedures.
In late 2018 or early 2019, MZOR expects commercial availability of ArcAid, another robotic device that, along with X-Align software, will expand the role of the robot beyond implant guidance and into rod-bending in the OR.
Source: Mazor Robotics Ltd.
Mazor Robotics (MZOR) reported 3Q17 revenue of US $17.2MM, +126.3% from 3Q16, and YTD revenue of $44.4MM, +99.1% vs. the prior year.
Q17Â
3Q16Â
$ ChangeÂ
% ChangeÂ
 Spine
$17.2Â
$7.6Â
$9.6Â ...
Mazor Robotics (MZOR) reported 3Q17 revenue of US $17.2MM, +126.3% from 3Q16, and YTD revenue of $44.4MM, +99.1% vs. the prior year.
3Q17 | 3Q16 | $ Change | % Change | |
 Spine | $17.2 | $7.6 | $9.6 | 126.3% |
9Mo17 | 9Mo16 | $ Change | % Change | |
 Spine | $44.4 | $22.3 | $22.1 | 99.1% |
In the middle of 3Q, well ahead of the planned 1Q18 timeline, MZOR entered Phase II of its strategic partnership with Medtronic (MDT). The timeline was accelerated following higher than expected market acceptance and demand for the Mazor X surgical assistance platform, and early achievement of sales and marketing milestones by both companies.
MDT has now taken on exclusive global distribution of Mazor X and has made a $40MM third tranche investment in MZOR, for a total investment of $72MM, equaling up to 11.9% share ownership. MDT may purchase additional shares that could increase its investment to $125MM, with share ownership at 14.2%.
As of mid-4Q, MDT is handling capital and clinical sales, as well as support; 29 former MZOR employees are now part of MDT’s robotic sales team.
Mazor will continue to market its Renaissance surgical guidance system in small hospitals and ASCs, avoiding competition with Mazor X.
In just over one year of market availability, MZOR has received orders for 74 Mazor X systems. Globally, MZOR exited 3Q with more than 170 of its systems installed worldwide (all Mazor systems), which have supported over 200,000 implants placed in over 29,000 procedures.
In late 2018 or early 2019, MZOR expects commercial availability of ArcAid, another robotic device that, along with X-Align software, will expand the role of the robot beyond implant guidance and into rod-bending in the OR.
Source: Mazor Robotics Ltd.
You are out of free articles for this month
Subscribe as a Guest for $0 and unlock a total of 5 articles per month.
You are out of five articles for this month
Subscribe as an Executive Member for access to unlimited articles, THE ORTHOPAEDIC INDUSTRY ANNUAL REPORT and more.
JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.