DUBLIN – November 16, 2020 – Medtronic plc (NYSE:MDT), the global leader in medical technology, today announced it has completed its friendly tender offer for France- based Medicrea International (Euronext Growth Paris: FR0004178572 – ALMED Medicrea; OTCQX Best Market – MRNTF), a pioneer in the transformation of spinal surgery through artificial intelligence (AI), predictive modeling and patient specific implants. On July 15, 2020, the parties announced a friendly voluntary all-cash tender offer at the price of €7.00 per Medicrea share. As a result of completion of the tender offer, Medtronic currently owns in excess of 90% of Medicrea's share capital and voting rights and will shortly request the implementation of a squeeze-out procedure under French law, which will result in Medicrea becoming a wholly-owned subsidiary of Medtronic.
This is Medtronic's seventh acquisition completed in 2020 and furthers Medtronic's strategic expansion into AI, machine learning and predictive analytics.
Medicrea's product portfolio consists of 30+ 510(k) cleared or CE Marked implant technologies, utilized in spinal surgeries for adult deformity, pediatric deformity and degenerative disease. The Medicrea solution is powered by predictive modeling and sophisticated algorithms that measure and digitally reconstruct a patient's spine to its optimal profile. The UNiDTM ASI (Adaptive Spine Intelligence) platform has seen rapid growth this year despite elective surgery restrictions resulting from COVID-19. By acquiring Medicrea, Medtronic will become the leader in personalized implants and AI- driven planning and prediction capabilities – setting a foundation for the future of individualized patient care.
"We have entered the age of augmented intelligence in spinal surgery at the point of care," said Christopher Ames, M.D., director of spinal tumor and spinal deformity surgery at UCSF Medical Center in California. "Through the power of predictive models, data collection and machine learning, a unique capability is created, allowing for a continuous cycle of improvement. Physicians will have augmented eyes through surgical navigation, augmented hands with robotics, and most importantly, augmented intelligence through full integration with machine intelligence impacting all aspects of the care pathway. This type of technology will likely lead to safer procedures and more reliable outcomes while preventing costly revision surgery. It is rewarding to see the spine industry fully embracing these new capabilities and investing in the future."
