Zimmer Biomet enters surgical robotics with Medtech buy

rosa-spine-pic-800x500_cZimmer Biomet ($ZBH) flexed some of its cash-on-hand muscle and has entered into the growing surgical robotics arena with the purchase of France’s Medtech for an estimated $77 million.

According to an SEC filing, Zimmer Biomet agreed to buy a little more than 1.4 million shares of the French medical robotics company at a price of €50.00 ($55) per share, with convertible bonds priced at €50.03 ($55.60) each and the warrants at a price of €17.17 ($18.90) each.

Wall Street analysts have estimated the orthopedic giant’s pockets to be as deep as $5 billion in cash it can use in the next few years following its $13.4 billion acquisition of Biomet just a little over a year ago.

The deal for Medtech is seen as Zimmer’s entry into the surgical robotics field that includes players such as Intuitive Surgical ($ISRG) and Stryker ($SYK). Johnson & Johnson ($JNJ) and Alphabet ($GOOG) have partnered to create new robotic-assisted surgical platforms as well, and the U.K.’s Cambridge Medical Robotics just announced $20.3 million in Series A funding it plans to use to develop its robotic surgical technology.

Medtech’s product portfolio includes two robots for minimally invasive brain and spine procedures dubbed the ROSA Brain and the ROSA Spine. The ROSA Brain received FDA approval in 2009 and the ROSA Spine a CE mark in 2014.

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About Peter Coffaro 1136 Articles

A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

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