Mazor Robotics to get $15 million equity funding; Medrobotics gets $8
Larry Ellison’s Oracle Investment Management invested $7.5 million; the remainder comes from an issuance of ordinary shares.
Part of the deal is to upgrade Mazor Robotic‘s Israeli ADR to be listed on the American NASDAQ.
Mazor sales are rising steadily as more hospitals are acquiring their Renaissance™ spine surgery/implant system. Second quarter financial results reflect a four-fold increase from a year ago. “We have made significant progress in placing our Renaissance systems in prestigious hospital networks, particularly within the important U.S. market,” says company CEO.
Medrobotics, a robotic surgical products company making cardioARM, a robotic probe controlled remotely and designed to enable surgeries with minimal or no incisions, filed an $8M round of equity, warrants and other options as part of a $20 million Series D offering. A total of 18 investors participated.