Mazor Robotics Ltd. (TASE:MZOR) has obtained US Food and Drug Administration (FDA) marketing approval for its Emerald spinal implants. The company plans to begin marketing in the second half of 2011.
Mazor's share price jumped 11% in heavy trading on the news, but fell back to a gain of 7.4% in afternoon trading to NIS 10.81, giving a market cap of NIS 204 million.
The Emerald spinal implant is inserted by the company's robotic SpineAssist system for minimally invasive spinal surgical procedures. The implants were developed as part of Mazor's strategy to develop new products for use in conjunction with the SpineAssist system.
The surgical implant procedure already has an indemnification code of $6,000-8,000 per procedure. Mazor expects to charge this amount in addition to the charge for the use of the company's disposable products used in procedures with the SpineAssist system.
In preparation for the commercial launch, Mazor plans to test the use of the Emerald spinal implants at international opinion-setting surgical centers.
Published by Globes [online], Israel business news - www.globes-online.com - on January 25, 2011
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