Medtronic is set to acquire Mazor Robotics for $1.6bn
One of the world's largest medical technology, services and solutions companies – Medtronic is set to acquire robotic technology company, Mazor Robotics for $1.6bn.
At present, Medtronic employs more than 86,000 people worldwide, serving physicians, hospitals and patients in more than 150 countries. The acquisition will therefore strengthen its 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 (Mazor X), and the Renaissance Surgical-Guidance System (Renaissance), are transforming spinal surgery from freehand procedures to accurate, state-of-the-art, guided procedures.
To date, more than 200 Mazor systems are in clinical use on four continents and have guided the placement of more than 250,000 implants during some 40,000 procedures, enabling minimally-invasive spine surgery to become standard procedure in many hospitals.
Combining Medtronic's market-leading spine implants, navigation, and intra-operative imaging technology with Mazor's robotic-assisted surgery (RAS) systems, the company will aim to deliver a fully-integrated procedural solution for surgical planning, execution and confirmation in order to showcase this integration at the upcoming NASS (North American Spine Society) 2018 Annual Meeting in Los Angeles.
Mazor's core technology has received more than 15 US Food and Drug Administration clearances and has been the subject of more than 60 publications, leading the spine robotics market on the evidence front. The company is the holder of more than 50 patents worldwide.
"We believe robotic-assisted procedures are the future of spine surgery, and provide surgeons a more precise, repeatable, and controlled ability to perform complex procedures. Medtronic is committed to accelerating the adoption of robotic-assisted surgery and transforming spine care through procedural solutions that integrate implants, biologics and enabling technologies," said Geoff Martha, Executive Vice President and President of the Restorative Therapies Group at Medtronic.
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"We intend to further cultivate Mazor's legacy of innovation in surgical robotics with the site and team in Israel as a base for future growth."
“Over the past two years it’s become clear to us that enabling technology like this is the future,” he informed Bloomberg.
“It improves outcomes in spinal surgery and reduces the variability. Once we realised this is clearly the future, we knew we had to integrate all this technology.”
Through the announcement, Medtronic will accelerate the advancement and adoption of RAS in spine to the benefit of patients, providers, and the healthcare system more broadly.
Ori Hadomi, CEO of Mazor Robotics added: "The Mazor team and product portfolio's full integration into Medtronic will maximize our impact globally through Medtronic's channels, advance our systems' leadership position in the marketplace, and drive the realization of our vision to heal through innovation."
The acquisition is expected to close during Medtronic's third fiscal quarter ending January 2019. The company projects the acquisition to generate a double-digit return on invested capital (ROIC) by year four, with an increasing contribution thereafter.
Microsoft launches Tech for Social Impact for elderly care
Microsoft Tech for Social Impact, the tech giant's division offering tools for non profit organisations, has announced it is expanding to include aged care non profits around the world.
This means that non profit organisations helping elderly residents in nursing homes or with other daily support will now be eligible for technology grants and discounts of up to 75%, as well as training and capacity building to help with digital transformation.
The care home sector has been one of the hardest hit by the COVID-19 pandemic, caring for some of the most vulnerable people in society. As a result organisations around the world have been deploying innovative technologies, such as IoT to create monitoring solutions that enable independent living, through to AI-driven robots that provide companionship as well as alert the user's care team if there are any changes to their symptoms.
The German Red Cross (DRK) is an early adopter that is already benefitting from this programme expansion as part of Microsoft Tech for Social's pilot scheme. DRK provides services and assistance to over 40,000 people at more than 500 aged care facilities in Germany, with a further 90,000 receiving care in their own homes.
Thanks to Microsoft 365 cloud technologies such as SharePoint and OneDrive, along with Teams for communication, DRK was able to continue its daily work even at the height of the pandemic crisis. Residents of DRK facilities used Teams to keep in touch with relatives despite restrictions to visits, and there are plans to continue using these channels in the future to prevent isolation among residents.
Following the pilot’s success, the programme will offer discounts and grants to eligible organisations for its Microsoft cloud stack including Business Applications, Azure and Modern Work, leveraging the firm's sector-specific tools with Microsoft Cloud for Nonprofit which will be generally available in the second half of 2021.
Microsoft estimate that around 75,000 new non profit organisations around the world will be eligible for the programme.