November 16, 2020 – Medtronic plc (Dublin, Ireland) has completed its friendly tender offer for Medicrea International (France), 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 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.
Medtronic says the acquisition builds on a phase of growth for its Spine segment, with the acquisition of Mazor Robotics in 2018, Titan Spine last year, the recent launch of the Adaptix Interbody System, and recently cleared innovative new capabilities on Mazor robotics products.