Medtronic plc , a global leader in medical technology, and Medicrea, a pioneer in the transformation of spinal surgery through artificial intelligence, predictive modeling and patient specific implants, announced that they have entered into a tender offer agreement for the acquisition of all outstanding shares of Medicrea. The friendly voluntary all-cash tender offer will be at a price of €7.00 per Medicrea share. The Boards of Directors of both companies have unanimously approved the transaction.
This acquisition would strengthen Medtronic’s position as a global innovator in enabling technologies and solutions for spine surgery.
“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 personalized 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,” said Jacob Paul, senior vice president and president of the Cranial & Spinal Technologies division, which is part of the Restorative Therapies Group at Medtronic. “Medtronic will become 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 will significantly benefit our customers and their patients.”
Medicrea’s product portfolio includes MEDICREA® UNiD® ASI (Adaptive Spine Intelligence) designed to support surgeon workflow in pre-operative planning and create personalized implant solutions for surgery. The Medicrea solution is powered by predictive modeling and sophisticated algorithms that measure and digitally reconstruct the spine to its optimal profile.
“Spine surgery is one of the more complex procedures in healthcare because of the high number of different parameters to take into consideration. It is impossible for the human brain to compute all of them for one single patient,” said Denys Sournac, founder, chairman and CEO of Medicrea. “The medical world has been waiting for the arrival of customization 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 customized 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.”
Through the lens of predictive medicine, Medicrea leads the design, integrated manufacture, and distribution of more than 30 510(k) cleared implant technologies, utilized in over 175,000 spinal surgeries to date. Medicrea is a Small and Medium sized Enterprise (SME) with 175 employees worldwide, which includes 35 employees in New York, NY. The company has a modern manufacturing facility in Lyon, France housing the development and production of 3D-printed titanium patient-specific implants. By leveraging its proprietary software analysis tools with big data and machine learning technologies supported by an expansive collection of clinical and scientific data, Medicrea is well-placed to streamline the efficiency of spinal care, reducing procedural complications and limiting time spent in the operating room.
Medtronic plc, 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.