Mazor Robotics Finalizes Financing Agreement For Up To $15 Million
CAESAREA, Israel--(BUSINESS WIRE)--Oct 2, 2012--Mazor Robotics Ltd. (TASE: MZOR), a developer of innovative surgical robots and complementary products, today announced that it has finalized the financing agreement that it had entered into on August 12, 2012. Mazor secured the first tranche of the investment of $7.5 million from a group of institutional and accredited investors, led by Oracle Investment Management, the investment management company founded by Larry Feinberg.
Under the structure of the transaction, the aggregate investment amount will be up to $15 million invested in two tranches of $7.5 million each and divided among a group of investors in varying percentages. The agreement provides up to $15 million for further investment capital and will facilitate the Company’s efforts to implement an American Depository Receipt program on a U.S. stock exchange.
About Mazor Mazor Robotics (TASE:MZOR) is dedicated to the development and marketing of innovative surgical robots and complementary products that provide a safer surgical environment for patients, surgeons, and operating room staff. Mazor Robotics’ flagship product, Renaissance™, is a state-of-the-art surgical robotic system that enables surgeons to conduct spine surgeries in an accurate and secure manner. Mazor Robotics systems have been successfully used in the placement of over 20,000 implants in the United States and Europe. Numerous peer-reviewed publications and presentations at leading scientific conferences have validated the accuracy, usability, and clinical advantages of Mazor Robotics technology. For more information, please visit www.mazorrobotics.com.
About Oracle Investment Management Oracle Investment Management, Inc. (OIM) is a fundamental research driven investment management company that is exclusively focused on both publicly traded and private investments within the global health care markets. OIM was founded in 1993 and is led by Larry Feinberg.CONTACT: EVC Group Investors: Aimee Gordon or Robert Jones, 646-445-4800 email@example.com firstname.lastname@example.org Media: Chris Gale, 646-201-5431 email@example.com KEYWORD: UNITED STATES NORTH AMERICA NEW YORK MIDDLE EAST ISRAEL INDUSTRY KEYWORD: SURGERY TECHNOLOGY HARDWARE HEALTH SOURCE: Mazor Robotics Ltd. Copyright Business Wire 2012 PUB: 10/02/2012 05:15 AM/DISC: 10/02/2012 05:15 AM http://www.businesswire.com/news/home/20121002005618/