DUBLIN, Nov. 16, 2020 /PRNewswire/ -- Medtronic plc
(NYSE:MDT), the global leader in medical technology, today
announced that it has completed its friendly tender offer for
France-based Medicrea
International (Euronext Growth Paris: FR0004178572 –
ALMED Medicrea; OTCQX Best Market – MRNTF), a pioneer in the
transformation of spinal surgery through artificial intelligence
(AI), predictive modeling and patient specific implants. On
July 15, 2020, the parties announced
a friendly voluntary all-cash tender offer at the price of €7.00
per Medicrea share. As a result of completion of the tender offer,
Medtronic currently owns in excess of 90% of Medicrea's share
capital and voting rights and will shortly request the
implementation of a squeeze-out procedure under French law, which
will result in Medicrea becoming a wholly-owned subsidiary of
Medtronic.
This is Medtronic's seventh acquisition completed in 2020 and
furthers Medtronic's strategic expansion into AI, machine learning
and predictive analytics.
Medicrea's product portfolio consists of 30+ 510(k) cleared or
CE Marked implant technologies, utilized in spinal surgeries for
adult deformity, pediatric deformity and degenerative disease. The
Medicrea solution is powered by predictive modeling and
sophisticated algorithms that measure and digitally reconstruct a
patient's spine to its optimal profile. The UNiD™ ASI (Adaptive
Spine Intelligence) platform has seen rapid growth this year
despite elective surgery restrictions resulting from
COVID-19. By acquiring Medicrea, Medtronic will become the
leader in personalized implants and AI-driven planning and
prediction capabilities – setting a foundation for the future of
individualized patient care.
"We have entered the age of augmented intelligence in spinal
surgery at the point of care," said Christopher Ames, M.D., director of spinal tumor
and spinal deformity surgery at UCSF Medical Center in California. "Through the power of predictive
models, data collection and machine learning, a unique capability
is created, allowing for a continuous cycle of improvement.
Physicians will have augmented eyes through surgical navigation,
augmented hands with robotics, and most importantly, augmented
intelligence through full integration with machine intelligence
impacting all aspects of the care pathway. This type of technology
will likely lead to safer procedures and more reliable outcomes
while preventing costly revision surgery. It is rewarding to see
the spine industry fully embracing these new capabilities and
investing in the future."
Spine surgery is one of the more complex procedures in
healthcare because of the high number of different parameters that
must be taken into consideration. In conventional spine surgery,
surgeons manually bend spine rods in the operating room and there
can be large variability in outcomes. The UNiD ASI
platform uses a database of over 6,000 surgical cases to power
algorithms that visualize multiple permutations, allowing surgeons
to better understand their patients alignment before surgery,
customize a surgical plan and use a personalized rod bent in the
optimal plane to help ensure the goals of the surgery are
achieved.
"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," said Jacob Paul,
president of the Cranial & Spinal Technologies operating unit
at Medtronic. "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."
The acquisition builds on an exciting phase of innovation and
growth for Spine at Medtronic with the acquisition of Mazor
Robotics in 2018, Titan Spine last year, the recent launch of the
Adaptix™ Interbody System, and recently cleared innovative new
capabilities on Mazor robotics products.
About Medtronic
Medtronic plc (www.medtronic.com),
headquartered in Dublin, Ireland,
is among the world's largest medical technology, services, and
solutions companies – alleviating pain, restoring health, and
extending life for millions of people around the world. Medtronic
employs more than 90,000 people worldwide, serving physicians,
hospitals, and patients in more than 150 countries. The company is
focused on collaborating with stakeholders around the world to take
healthcare Further, Together.
Any forward-looking statements, including, but not limited
to, statements regarding the transaction, strategic and other
potential benefits of the transaction, Medicrea's products and
product candidates, and other statements about Medtronic or
Medicrea managements' future expectations, beliefs, goals, plans or
prospects, are subject to risks and uncertainties including, but
not limited to, the impact of the announcement of closing of the
transaction on the business, and other risks and uncertainties such
as those described in Medtronic's periodic reports on file with the
Securities and Exchange Commission. Actual results may differ
materially from anticipated results. Medtronic and Medicrea caution
investors not to place considerable reliance on the forward-looking
statements contained in this press release. These forward-looking
statements speak only as of the date of this press release, and
Medtronic and Medicrea undertake no obligation to update or revise
any of these statements except to the extent required by
law.
Contacts:
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David T.
Young
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Ryan
Weispfenning
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Public
Relations
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Investor
Relations
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+1-774-284-2746
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+1-763-505-4626
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SOURCE Medtronic plc