Medtronic, a global leader in spinal medicine and care, has announced it will acquire France-based spinal surgery company Medicrea.
Purchased as part of Medtronic's push towards a fully integrated surgical planning solution, Medicrea specialises in artificial intelligence, predictive modelling and patient-specific implants in modern spinal surgery.
The all-cash agreement will see Medtronic purchase all of Medicrea's outstanding shares for $8 per share, following a unanimous decision from both companies.
Jacob Paul, senior vice president and president of the Cranial and Spinal Technologies division, which is part of the Restorative Therapies Group at Medtronic, commented that the deal would combine Medtronic's portfolio of spinal surgery expertise with Medicrea's knowledge in data analytics and artificial intelligence to significantly boost advancements in spinal medicine.
"This marks another important step in furthering our commitment to improving outcomes in spine care," he said. "Medtronic will become the first company to be able to offer an integrated solution including artificial intelligence-driven surgical planning, personalized spinal implants and robotic-assisted surgical delivery, which will significantly benefit our customers and their patients."
Although subject to regulatory approvals and conditions across both France and the United States, the deal is expected to be closed by the end of the year.