Medtronic To Acquire Medicrea - Quick Facts

(RTTNews) - Medtronic plc (MDT) and Medicrea have entered into a tender offer agreement for the acquisition of all outstanding shares of Medicrea. The friendly voluntary all-cash tender offer will be at a price of 7.00 euros per Medicrea share. Medicrea is a pioneer in the transformation of spinal surgery through artificial intelligence, predictive modeling and patient specific implants.

Jacob Paul, president of the Cranial & Spinal Technologies division, which is part of the Restorative Therapies Group at Medtronic, said: "Medtronic will become the first company to be able to offer an integrated solution including artificial intelligence driven surgical planning, personalized spinal implants and robotic assisted surgical delivery, which will significantly benefit our customers and their patients."

Medtronic said the acquisition is expected to be immaterial to the Group's adjusted earnings per share in the first two fiscal years before turning accretive in fiscal year 2023.