Zimmer plans to acquire French surgical robot company Medtech for at least $132 million

According to massdevice, Zimmer Biomet (NYSE: ZBH) announced yesterday that it agreed to pay at least $132 million for the acquisition of surgical robot company Medtech (EPA code: ROSA).

Zimmer Biomet, based in Warsaw, Indiana, has purchased more than 1.4 million ROSA shares from Medtech founder and CEO Bertin Nahum, Newfund, and other owners at a price of 50 euros per share ($55.39). The company is based in Montpellier, France, with 58.77% of its total shares. Zimmer Biomet also proposed to purchase convertible bonds at a price of 50.03 euros ($55.43) and 17.81 euros (about 19.02 US dollars) to buy their warrants, both of which are owned by Ally Bridge Group.

Zimmer Biomet said it was approved by the French antitrust regulator's Financial Market Authority (AMF), Autorité des Marchés Financiers, and it also agreed to start and cash acquisition offers that Medtech had no longer owned its shares.

Upon completion of the acquisition, Medtech's board members Frank Yu, Fernand Badano, and Eric Briole will leave, and Nahum will continue to lead Zimmer Biomet's robotics program.

It is understood that Medtech has developed Rosa Brain and Rosa Spine robotic assisted surgery platforms, both of which have CE certification in the European Union. Among them, the Rosa Spine equipment also received a 510(k) license from the FDA in January this year.

Zimmer acquires French surgical robot company Medtech, paying at least $132 million

“Ally Bridge Group has always been a true global partner and has helped us, especially in China and the US,” Nahum said.

“This Zimmer Biomet acquisition of Medtech is a test of a strong innovation and an impressive global business mark,” added Ally Bridge Group founder, CEO & CIO Yu. “We expect Zimmer Biomet to Industry-leading status allows Medtech's innovative minimally invasive surgical robots to benefit from more patients with neurological and spinal disorders worldwide."

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