Business
Memic Innovative Surgery Ltd. and MedTech Acquisition Corporation Announce Proposed Business Combination
- Memic's Hominis® platform is the first and only FDA-authorized surgical robot that features miniature humanoid-shaped arms, with shoulder, elbow, and wrist
About this update from Trisalus Life Sciences, Inc.
[{"type":"text","content":"- Memic's Hominis® platform is the first and only FDA-authorized surgical robot that features miniature humanoid-shaped arms, with shoulder, elbow, and wrist joints, providing human level dexterity and 360-degree articulation\n - Hominis' small, compact, and mobile design occupies a minimal footprint at a significant cost advantage compared to available robotic technology\n - The first FDA-authorized indication of Hominis is in women's health, including benign hysterectomy via the transvaginal approach, which is known to offer less pain, lower infection rates, faster recovery, and no visible scarring\n - The MedTech Acquisition Corporation management team and board of directors bring decades of medical device and surgical robotics commercialization experience\n - The combined companies are valued at an estimated pro-forma equity value of more than $1 billion, assuming no redemptions by MedTech's public stockholders\n - The Company will have approximately $360 million in pro forma cash on the balance sheet, assuming no redemptions by public stockholders of MedTech, less transactional expenses and operational expenses through closing, to support ongoing commercialization in women's healthcare and development of additional Hominis robot-assisted surgical applications\n - The business combination is supported by a $76 million PIPE with participation from leading investors, including Bridger Healthcare, Ltd., The Kraft Group, Monashee Investment Management LLC, Pura Vida Investments, Wellington Management, Ken Langone, Peregrine Ventures, HighSage Ventures, and management and board members of MedTech\n\n\nTEL AVIV, Israel and FORT LAUDERDALE, Fla., Aug. 13, 2021 /PRNewswire/ -- Memic Innovative Surgery Ltd. (the \"Company\" or \"Memic\"), a medical device company dedicated to transforming surgery with its proprietary surgical robotic technology, and MedTech Acquisition Corporation (Nasdaq: MTAC) (\"MedTech\"), a publicly traded special purpose acquisition company (SPAC) focused on medical technology, including surgical robotics, today announced that they have entered into a definitive agreement for a business combination. Upon the closing of the transaction, the combined company will operate under the Memic name and Maurice R. Ferré, MD, an independent director of MedTech and current Chairman of the board of Memic, will become Execut...