Global medical technology firm Medtronic has closed the acquisition of France-based spinal surgery technology firm Medicrea International.
On 15 July 2020, the companies announced a friendly voluntary all-cash tender offer at the price of €7.00 per Medicrea share.
With the completion of the tender offer, Medtronic now owns more than 90% of Medicrea’s share capital and voting rights.
Also, Medtronic is expected to request the implementation of a squeeze-out procedure under French law, resulting in Medicrea becoming a wholly-owned subsidiary of Medtronic.
The transaction marks seventh acquisition for Medtronic in 2020 and further expands Medtronic’s AI, machine learning and predictive analytics capabilities.
Medtronic cranial and spinal technologies operating unit president Jacob Paul said: “By offering clinicians one of the most innovative, ground-breaking technologies, Medtronic is redefining spine procedures to help reduce variability and improve outcomes, with the ultimate goal of restoring long-term quality of life for more patients.
“Medtronic now becomes 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 puts the power of these smart technologies directly into the hands of clinicians to make patient care more tailored and personalized.”
Medicrea offers over 30 510(k) approved or CE Mark approved implant technologies
Medicrea is focused on transforming spinal surgery by deploying artificial intelligence (AI), predictive modelling and patient specific implants.
The company’s offers a range of products comprising more than 30 510(k) approved or CE Mark approved implant technologies, used in spinal surgeries for adult deformity, pediatric deformity and degenerative disease.
Backed by predictive modeling and advanced algorithms, the company’s solution is designed to measure and digitally reconstruct a patient’s spine to its optimal profile.
Its UNiD ASI platform leverages a database of more than 6,000 surgical cases to power the algorithms visualise multiple permutations, to allow surgeons better understand their patients’ alignment before surgery.
Also, the solution helps surgeons to customise a surgical plan and use a personalised rod bent in the optimal plane in order to help ensure that the objectives of the surgery are met, said the company.
With the acquisition, Medtronic is enabled to expand its personalised implants offering and AI-driven planning and prediction capabilities.
