Mazor Robotics (MZOR) received CE Mark approval for the Mazor X Surgical Assurance Platform. Medtronic (MDT) will proceed to market and sell the system in appropriate regions.
In mid-2Q17, MZOR and MDT announced their move to Phase II of their strategic partnership in support of the Mazor X platform, in which MDT took over exclusive global distribution and made a US $40MM third tranche investment in MZOR. (Other terms include annual minimum unit purchases, future product co-development, etc.)
Notably, the $40MM investment brings MDT’s total investment in Mazor to $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%.
Just before the confirmation of Phase II, in MDT’s FY1Q18 call, Geoff Martha noted, “The relationship continues to go well. Our customers see a lot of value in not just the robot, but in the Mazor X robot used in conjunction with our intraoperative imaging system, the O-arm 2, as well as our navigation platform, StealthStation.” Mr. Martha is Executive Vice President and President for Medtronic’s Restorative Therapies Group.
Mazor Robotics (MZOR) received CE Mark approval for the Mazor X Surgical Assurance Platform. Medtronic (MDT) will proceed to market and sell the system in appropriate regions.
In mid-2Q17, MZOR and MDT announced their move to Phase II of their strategic partnership in support of the Mazor X platform, in which MDT took over exclusive global...
Mazor Robotics (MZOR) received CE Mark approval for the Mazor X Surgical Assurance Platform. Medtronic (MDT) will proceed to market and sell the system in appropriate regions.
In mid-2Q17, MZOR and MDT announced their move to Phase II of their strategic partnership in support of the Mazor X platform, in which MDT took over exclusive global distribution and made a US $40MM third tranche investment in MZOR. (Other terms include annual minimum unit purchases, future product co-development, etc.)
Notably, the $40MM investment brings MDT’s total investment in Mazor to $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%.
Just before the confirmation of Phase II, in MDT’s FY1Q18 call, Geoff Martha noted, “The relationship continues to go well. Our customers see a lot of value in not just the robot, but in the Mazor X robot used in conjunction with our intraoperative imaging system, the O-arm 2, as well as our navigation platform, StealthStation.” Mr. Martha is Executive Vice President and President for Medtronic’s Restorative Therapies Group.
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