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FinancialNews
22-09-18
Medtronic acquires Israeli medical device firm for USD1.6b
(MENAFN) Medtronic was unveiled to be set to entirely purchase Israel's medical device company Mazor Robotics on a cost of USD1.6 billion.
Ever since Israel was formed in 1948, this "exit" agreement broke historic records for Israeli medical companies.
The global company has previously been the owner of 12 percent of shares in the Israeli company, and is acquiring the 88 percent left.
The agreement was assured to be means for escalating Medtronic's evolution to robotic-guided procedures, and is to enhance results in spinal surgery and ease the lack of uniformity in results using Mazor's systems.
MENAFN2209201800450000ID1097470693
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