Mazor Surgical Technologies Ltd. is set to hold an IPO on the Tel Aviv Stock Exchange (TASE). Sources inform ''Globes'' that the company value for the fairly large offering will be $40-50 million.
Mazor has developed accurate, easy-to-use miniature robotic guidance systems for surgical procedures, including incisions, drilling, and biopsies. The company’s SpineAssist platform is precision positioning tool that is combined with the company’s Hover-T device, which is attached percutaneously to the patient allowing the SpineAssist to float above the spine. This allows surgeons to accurately access any point in the spine through a minimal invasive approach with minimal muscle or tissue disruption. Current procedures involve opening the back so surgeons can eyeball the spinal column.
Mazor’s product is suitable for several markets, but the company decided to initially focus on the spinal procedures, which is a huge market that currently lacks minimally invasive solutions.
Mazor has raised $20 million from Alice Ventures, Johnson & Johnson Development Corporation, Israel Healthcare Ventures Ltd., DOR Ventures, Shalom Equity Fund, Israel Technology Partners and ProSeed Venture Capital Fund (TASE:PRSD).
Published by Globes [online], Israel business news - www.globes.co.il - on May 1, 2007
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