Medtronic Buys Mazor Robotics For $1.3Bn

21 Sep 2018

• By Catherine Longworth

Medtronic is straightening up as a market leader in spinal surgery after agreeing to buy the shares of Mazor Robotics that it does not already own. The $1.3bn deal builds on an existing agreement between the companies formed in May 2016 and strengthens Medtronic as the front runner in the spine robotics field.

Mazor X(TM) Robotic Guidance System (Mazor X), — • Source: Mazor Robotics Ltd.

Medtronic PLC is cementing its position in surgical robotics by paying $1.3bn for the shares of Mazor Robotics Ltd. it does not already own, the companies announced Sept. 20.

Medtronic already owned 11% of the company and agreed to pay approximately $1.64bn, or $1.34bn net of Medtronic’s existing stake...