Mazor Robotics (MZOR)

[DrContango]

MEDTRONIC TO ACQUIRE MZOR!!!

Medtronic Plc, agreed to buy Mazor Robotics Ltd., a maker of robotic guidance systems, in a $1.64 billion cash deal to strengthen its position in technology for spine surgery.

Medtronic agreed to pay $58.50 per American depositary share for the stock in Mazor that it doesn’t already own, the companies said in a joint statement Thursday. Medtronic previously held an 11 percent stake in the Israel-based company, according to Bloomberg data. The boards of directors of both companies have unanimously approved the transaction. The deal is expected to close in Medtronic’s third quarter.

"We believe robotic-assisted procedures are the future of spine surgery, enhancing surgeons’ abilities to perform complex procedures with greater precision, consistency and control,” Geoff Martha, executive vice president and president of the Restorative Therapies Group at Medtronic, said in the statement.

https://finance.yahoo.com/news/medtronic-agrees-buy-mazor-robotics-231902512.html


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