Medtronic has completed its friendly tender offer to acquire France-based artificial intelligence (AI)-enabled spinal implant manufacturer Medicrea International.
In July, the companies signed an agreement for the acquisition of all outstanding shares of Medicrea in a voluntary all-cash tender offer priced at €7 ($7.97) per share.
With the completion of the tender offer, Medtronic now owns over 90% of Medicrea’s share capital and voting rights.
The company will also seek the implementation of a squeeze-out procedure under French law, which would make Medicrea a wholly owned subsidiary of Medtronic.
The latest acquisition has become the seventh by Medtronic to be completed this year.
The deal expands Medtronic’s AI and data capabilities and makes it the first company to offer an integrated spine solution, which includes AI-driven surgical planning, personalised spinal implants, and robotic-assisted surgery.
Medtronic Cranial & Spinal Technologies operating unit president Jacob Paul said: “By offering clinicians one of the most innovative, groundbreaking 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, personalised 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 personalised.”
Over 30 products with 510(k) cleared or CE-Marked implant technologies used in spinal surgeries for adult deformity, paediatric deformity, and degenerative disease are part of Medicrea’s portfolio.
Powered by predictive modelling and sophisticated algorithms, the Medicrea solution measures and digitally reconstructs the spine to its optimal profile.
MEDICREA UNiDAdaptive Spine Intelligence (ASI) enables the surgeon to choose customised surgical plan selected from a database of over 6,000 surgical cases.