Medtronic Completes Acquisition of Medicrea

Acquisition Expands Medtronic's Artificial Intelligence and Data Capabilities, Becoming the First Company to Offer an Integrated Spine Solution Including AI-Driven Surgical Planning, Personalized Spinal Implants and Robotic Assisted Surgery DUBLIN, Nov. 16, 2020 /CNW/ -- Medtronic plc (NYSE:MDT), the global leader in medical technology, today announced that it has completed its friendly tender offer for France-based Medicrea International (Euronext Growth Paris: FR0004178572 – ALMED Medicrea; OTCQX Best Market – MRNTF), a pioneer in the transformation of spinal surgery through artificial intelligence (AI), predictive modeling and patient specific implants. On July 15, 2020, the parties announced a friendly voluntary all-cash tender offer at the price of €7.00 per Medicrea share. As a result of completion of the tender offer, Medtronic currently owns in excess of 90% of Medicrea's share capital and voting rights and will shortly request the implementation of a squeeze-out procedure under French law, which will result in Medicrea becoming a wholly-owned subsidiary of Medtronic. This is Medtronic's seventh acquisition completed in 2020 and furthers Medtronic's strategic expansion into AI, machine learning and predictive analytics. Medicrea's product portfolio consists of 30 510(k) cleared or CE Marked implant technologies, utilized in spinal surgeries for adult deformity, pediatric deformity and degenerative disease.