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Medtronic buys Israeli robotic surgery company Mazor for $1.64bn

Mazor develops robotic guidance systems for spinal surgery

September 21, 2018 09:33
Mazor specialises in robotic spinal surgery

BySimon Griver, Simon Griver in Jerusalem

1 min read

A company that develops robotic guidance systems for spinal surgery has been sold to a global medical device giant in the biggest acquisition yet in Israel’s prospering medical sector.

Irish American company Medtronic plc has agreed to the $1.64 billion (£1.24 billion) deal to purchase Mazor Robotics, which will include the Israeli company’s research and development operations.

Mazor’s chief executive Ori Hadori said he had received assurances that the company’s R&D operations would remain in Israel.

He said: “The development centre stays here and it will grow and become stronger. I’ve received full approval over this and we will carry on hiring more employees as we have been doing up until now.