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Medtronic to acquire Mazor Robotics

Medtronic plc and Mazor Robotics have entered into a definitive merger agreement under which Medtronic will acquire all outstanding ordinary shares of Mazor for USD 58.50 per American Depository Share, or USD 29.25 (104.80 ILS) per ordinary share, in cash, for a total of approximately USD 1.64 billion, or USD 1.34 billion net of Medtronic›s existing stake in Mazor and cash acquired.

Medtronic›s acquisition of Mazor strengthens Medtronic›s position as a global leader in enabling technologies for spine surgery, and drives Mazor Robotics› vision to bring its core technology to the forefront of the global market. Mazor›s proprietary core platform technology, including the Mazor X robotic guidance system and the Renaissance surgical-guidance system, is transforming spinal surgery from freehand procedures to accurate, state-of-the-art, guided procedures. The acquisition is expected to close during Medtronic’s third fiscal quarter ending January 25, 2019.

“This acquisition adds robotic-assisted guidance systems to our expanding portfolio of enabling technologies, and we intend to further cultivate Mazor’s legacy of innovation for future growth.”

Geoff Martha
Executive Vice President and President, Restorative Therapies Group,
Medtronic

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