Medtronic has signed a deal to acquire Medicrea, a French manufacturer of patient-specific, 3D-printed titanium implants.
The companies have entered a tender offer agreement for the acquisition of all outstanding shares of Medicrea in a voluntary all-cash tender offer priced at €7 ($7.97) per share.
The product portfolio of Medicrea includes MEDICREA UNiDAdaptive Spine Intelligence (ASI), which is designed to facilitate surgeon workflow in pre-operative planning.
Powered by predictive modelling and sophisticated algorithms, the solution measures and digitally reconstructs the spine to its optimal profile.
Medicrea also has proprietary software analysis tools to streamline the efficiency of spinal care and minimise procedural complications.
Medtronic Restorative Therapies Group Cranial and Spinal Technologies division president and senior vice-president Jacob Paul said: “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 personalised 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.”
With the addition of Medicrea products and software solutions, Medtronic will be able to offer artificial intelligence (AI)-driven surgical planning, personalised spinal implants and robotic-assisted surgical delivery
Medicrea founder, chairman and CEO Denys Sournac said: “The medical world has been waiting for the arrival of customisation 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 customised implants.
“We are thrilled to be joining forces with Medtronic because we share a similar mission to restore the long-term quality of life for patients. Now, together, we can help more patients in more places benefit from consistently high-quality surgical care.”
The acquisition is expected to be completed by the end of this year. It is subject to customary closing conditions and necessary regulatory approvals.
The deal to buy Medicrea follows Medtronic’s $1.7bn acquisition of Mazor Robotics in December 2018 and its takeover of the titanium interbody implant and spacer maker Titan Spine in June 2019.