US medical device giant Medtronic has announced that it will acquire Medicrea, a French manufacturer of implant technology tools, to bolster its spine surgery business.

Medtronic, which is based in Dublin for tax purposes but has its operational headquarters in Minnesota, said in a deal that it will offer Medicrea shareholders € 7 per share, which is a 22% premium over price. Medicrea’s closing on July 14, valuing the company at around $ 154 million.

“The combination of Medtronic’s innovative portfolio of spinal implants, robotics, navigation and 3D imaging technology with Medicrea’s capabilities and solutions in data analysis, artificial intelligence and custom implants would enhance Medtronic’s fully integrated procedural solution for surgical planning and administration, ”said Jacob Paul, president of the Spine Technologies Unit for Medtronic in a comment. joint press release.

“We are delighted to join forces with Medtronic as we share a similar mission: to restore the long-term quality of life of [spine surgery] patients, ”added Denys Sournac, founder and CEO of Medicrea (photo).

Medtronic shares rose 2% yesterday to end the day at $ 94.65 ahead of the announcement, while they are also up 0.4% in today’s pre-market. stock trading activity. At the same time, Medicrea shares are up 20% in Paris since the announcement and are currently trading at € 6.94 per share.

Medtronic said it has so far obtained a total of 44.4% of the outstanding shares of Medicrea and must reach a total of 66.67% of the voting rights of the company to complete the acquisition, based on French financial market regulations.

The transaction has yet to be approved by the French Markets Authority (AMF) and must also be authorized in the United States. Medtronic hopes to be able to file the takeover bid by September 2020, once the two regulators approve the deal.

Medtronic is a US medical device supplier with offices in more than 150 countries and more than 100,000 employees. Medicrea is a French medical technology company that has provided leading surgical implant solutions to more than 175,000 spine surgeries, employing nearly 200 people worldwide.

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