Mazor Robotics Signs Agreement with Distributor for China (press release)
Mazor Robotics Ltd, the leader in innovative surgical robots and complementary products for spine surgery, signed an agreement with Cicel Science & Technology Co., Ltd. to distribute its Renaissance™ system in China. Renaissance is Mazor Robotics’ next generation surgical guidance system for spine procedures.
“The Chinese medical market is advancing rapidly, adopting state-of-the-art technologies and striving to offer clinical care of the highest quality.”
As part of the agreement, Cicel is committed to purchasing three Renaissance systems. Cicel will use these systems to pursue regulatory clearance for Renaissance from the State Food and Drug Administration (SFDA) in China and to establish marketing activities in China. Cicel will be responsible for securing the necessary regulatory clearance, which Mazor expects will take two years. Cicel will have exclusive rights to market and distribute the system in China for three years following the receipt of SFDA clearance. Mazor has received a first installment on account of the total consideration for the systems from Cicel. The delivery of the three Renaissan...
