RESEARCH TRIANGLE PARK – TransEnterix, a growing provider of robotic-powered surgical equipment, is acquiring an Israel-based medical technology firm in a deal valued at some $32 million.
As part of the acquisition, TransEnterix will operate a research-and-development hub in Israel.
Set to become part of TransEnterix is MST Medical Surgery Technologies. The addition of that’s firm technology is seen as a boost for the TransEnterix-developed Senhance robotic system.
TransEnterix, which raised some $40 million in debt financing in May, announced the deal Sunday.
“Adding innovative, novel technological capabilities to Senhance is a critical part of our long-term strategy as we work towards digitizing the interface between the surgeon and the patient,” said Todd Pope,CEO of TransEnterix, in the announcement. “The addition of the MST technology to our Senhance platform will increase the effectiveness of surgeons, making procedures quicker and less error-prone, leading to better outcomes for the patient.”
TransEnterix describes MST as “a leader in the field of surgical technology, having developed a software-based image analytics platform powered by advanced visualization, scene recognition, artificial intelligence, machine learning and data analytics.”
The deal calls for TransEnterix to pay $5.8 million in cash plus 3,150,000 shares of TransEnterix stock. Shares closed at $6.47 on Friday.
A second tranche of $6.6 million in cash or stock is to be paid within one year of the deal’s closing, the companies said.
The R&D team of MST will become part of a new subsidiary TransEnterix Israel.
