Mazor Robotics Ltd. (TASE:MZOR) continues to expand its European operations with a distribution agreement in Italy with AB Medica SpA, a specialist in the sale of surgical robots. AB Medica committed to buying the first SpineAssist robotic surgical system during the first quarter of 2011.
AB Medica is a leading Italian distributor of innovative medical devices, especially for minimally invasive procedures. The company sells the da Vinci surgical system made by Intuitive Surgical Inc. (Nasdaq: ISRG), among other products. AB Medica, founded in 1984, has 150 employees and €55 million in annual sales.
In late 2010, Mazor completed the sale of its first SpineAssist robotic system for spinal surgical procedures in the Netherlands. Mazor said that its Dutch distributor has extensive experience in the sale of spinal surgical products in the country. Mazor also operates in Germany, Switzerland, Austria, the US, Israel, and Russia.
Mazor's share price rose 1.7% by mid-afternoon today to NIS 10.13, giving a market cap of NIS 203 million.
Published by Globes [online], Israel business news - www.globes-online.com - on January 24, 2011
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