Medtronic (NYSE:MDT) today said it acquired France-based spinal surgery technology company Medicrea.
Through the deal, Medtronic is buying for a tender offer price of €7.00 (nearly $7.84) per share for a premium of 22% over the closing price of shares on July 14, 33% over the one-month value-weighted average price and 56% over the three-month volume-weighted average price.
The acquisition will help strengthen Medtronic’s orthopedic spine surgery platforms.
“Combining Medtronic’s innovative portfolio of spine implants, robotics, navigation, and 3D imaging technology with Medicrea’s capabilities and solutions in data analytics, artificial intelligence and personalized implants, would enhance Medtronic’s fully-integrated procedural solution for surgical planning and delivery. This marks another important step in furthering our commitment to improving outcomes in spine care,” said Jacob Paul, SVP of cranial and spinal technologies at Medtronic.
“Medtronic will become the first company to be able to offer an integrated solution including artificial intelligence-driven surgical planning, personalized spinal implants and robotic-assisted surgical delivery, which will significantly benefit our customers and their patients,” Paul said in a news release.
Medicrea’s product portfolio includes the Unid Adaptive Spine Intelligence that supports surgeon workflow in preoperative planning to create personalized implant solutions.
“Spine surgery is one of the more complex procedures in healthcare because of the high number of different parameters to take into consideration. It is impossible for the human brain to compute all of them for one single patient,” Medicrea founder and CEO Denys Sournac said. “The medical world has been waiting for the arrival of customization in spinal surgery. With scientific progress in understanding sagittal balance and spinal injury, combined with the advent of new digital technologies, it is now possible to offer spinal patients entirely customized implants.”
