Medtronic will pay $58.50 per American Depository Share, or $29.25 (NIS 104.80) per ordinary share, in cash, for a total of $1.64 billion, or $1.34 billion net of Medtronic’s existing stake in Mazor, and cash acquired. This is an 11% premium on the company’s closing share price yesterday.
US Dublin-based med-tech company Medtronic plc (LSE: MDT) has acquired Mazor Robotics Ltd. (Nasdaq: MZOR) (TASE:MZOR) for $1.6 billion. This is the largest amount ever paid for an Israeli company in the medical sector, beating the $1.1 billion that Mitsubishi Tanabe Pharma paid for Neuroderm last year. Based in Caesarea, Mazor develops robotic guidance systems for spinal surgery.