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Medtronic strikes $1.6B takeover of Mazor Robotics (MedTechDive)
Dive Brief:
Medtronic is set to pay $1.64 billion to buy Mazor Robotics for its portfolio of guided spinal surgery technologies.
The takeover will give Medtronic control of technologies that enable robotic, guided spinal surgeries that deliver better outcomes than freehand procedures.
Medtronic will combine the technologies with its existing devices and technologies to create a portfolio of products covering each step in the planning and execution of spinal surgeries.
Dive Insight:
Medtronic first showed an interest in Mazor when it bought a 15% stake in the Israeli company in 2016. The following year, Medtronic tightened its ties to Mazor by adding to its investment in a deal that gave it the right to distribute the Mazor X robotic guidance system.
This activity took place against the backdrop of a lull in acquisitions at Medtronic, which stepped away from the deal table after agreeing to buy Covidien for $42 billion in 2015. Medtronic CEO Omar Ishrak indicated the company was ready to start striking deals again last month, and has followed up with a big move into the robotic-assisted sur...
