Karl Storz Endoscopy-America, a wholly-owned direct subsidiary of Germany-based Karl Storz, agreed to acquire all outstanding shares of Asensus. Karl Storz formally entered talks to buy the surgical robotics technology developer in April. The companies previously collaborated on surgical robotics marketing and development more than a year ago.
The purchase price of 35¢ per share represents a 67% premium on the closing price of the company’s stock on April 2, when they initially announced the intent to complete this deal. It marks a 52% premium on the closing price of the stock on the final trading day before the announcement.
Asensus Surgical’s board of directors unanimously approved the transaction, according to a news release.
Karl Storz believes the deal enhances its portfolio and market presence within the surgical robotics space. The company particularly highlighted the ongoing development of Asensus Surgical’s next-generation Luna platform.
Asensus said it plans to work expeditiously to secure stockholder approval. It expects the transaction to close during the third quarter of this year. Upon completion, Asensus becomes a subsidiary of Karl Storz Endoscopy-America.
“We are pleased to have reached this agreement with KARL STORZ, which we believe maximizes value for our stockholders,” said Anthony Fernando, Asensus Surgical president and CEO. “This transaction is a testament to the value of our innovative robotic and digital technology, intellectual property, and the hard work of our talented team. We are excited to enter the next chapter for Asensus with Karl Storz, which will allow us to continue to develop and deliver precise, safer, predictable surgery and digital tools to patients and surgeons around the world.”
More about Asensus Surgical
Research Triangle Park, North Carolina-based Asensus — formerly TransEnterix — develops the Senhance surgical robot platform. It also develops the Intelligent Surgical Unit (ISU) for Senhance.
Asensus designed ISU as a real-time intraoperative surgical image analytics platform. It leverages augmented intelligence to help reduce surgical variability.
Asensus also unveiled the Luna robot in February 2023. The integrated digital surgery solution features a next-generation surgical platform and instruments, plus real-time intraoperative clinical intelligence. Its final component, a secure cloud platform, applies machine learning to deliver clinical insights.
The company suggested last year that it targeted 2025 for FDA clearance for Luna. At the start of this year, the company showed Luna off to surgeons, conducting an in vivo lab evaluation of the next-generation surgical robot. The company inked a manufacturing deal for the platform in November as well.
