Medtronic to Acquire Medicrea

Medtronic announced plans to acquire French spinal implant manufacturer Medicrea, which offers a surgical planning platform and customized implants to treat a range of spinal pathologies. Medtronic, which has been building its AI and robotic portfolio for years, states in the press release that the Medicrea acquisition will make Medtronic the “first company to offer an integrated solution including artificial intelligence-driven surgical planning, personalized spinal implants and robotic assisted surgery”.

The all-cash transaction values the company at EUR 7.00 per share, 22% over the prior-day close, for a total transaction value of approximately EUR 140 million ($160 million). This represents a revenue multiple of 4.3x 2019 sales.

The acquisition is expected to close by the end of the year.