Medtech Company TransEnterix Acquires Assets of Israeli Medtech Company MST
The cash and stock deal is worth over $30 million at TransEnterix's current stock price
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TransEnterix stated it will pay MST $5.8 million in cash and 3.15 million shares at the closing o the transaction, as well as $6.6 million in either stock or cash within a year of the deal's closing. TransEnterix's stock was $6.87 at Tuesday market close.
Founded in 2005, MST develops image analytics technology for surgeries, with a focus on medical robotics and computer-assisted surgery. The company previously raised $13.5 million in equity funding, according to Crunchbase.
TransEnterix stated the acquisition will enable the company to enhance its existing digital laparoscopy offering, further adding that the existence of an Israeli research and development center will enable it to tap into the local technology scene.