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Zimmer Biomet has agreed to pay at least $132 million to acquire French robotic surgery company Medtech. Under the deal, Zimmer buys almost 59% of the outstanding share capital of Medtech from founder Bertin Nahum and other stockholders, as well as all outstanding convertible bonds and warrants previously issued by Medtech to private equity firm Ally Bridge Group.
“This acquisition of Medtech by Zimmer Biomet is a powerful validation of the innovative technologies — and an impressive global commercial footprint — of the Company under the leadership of its Founder and CEO, Bertin Nahum,” said Frank Yu, Founder, CEO and CIO of Ally Bridge Group. “We expect Zimmer Biomet’s industry-leading position to enable Medtech’s innovative minimally invasive surgical robots to reach a much greater number of patients suffering from neurological and spine disorders globally.”
Nahum will retain his leadership role and will head Zimmer’s robotic development activities at Medtech’s current headquarters in Montpellier, France.
“We expect Zimmer Biomet’s industry-leading position to enable Medtech’s innovative minimally invasive surgical robots to reach a much greater number of patients suffering from neurological and spine disorders globally,” added Yu.
Medtech says its ROSA robot is currently used in 20 hospitals in Europe, North America, Asia, and the Middle East. ROSA features a robotic arm with six degrees of freedom, advanced haptic capability, and a non-invasive and touch-free registration system designed to assist in a variety of minimally invasive neurological procedures. ROSA spine received U.S. Food and Drug Administration clearance in January and was approved by European regulators in 2014. The ROSA Spine system has recently achieved the milestone of 100 minimally invasive spinal surgeries performed.
For Further Information
More on the surgical robotics market can be found in our upcoming series of reports published by iData entitled the U.S. Market Report Suite for Surgical Navigation Systems and Robotics.