Globus Medical, a musculoskeletal implant manufacturer, has announced the acquisition of Excelsius Surgical, the developer of a next generation surgical robotic positioning platform for spine, brain and therapeutic markets.
The company has not disclosed the financial terms of the transaction.
The Excelsius Surgical is developing a surgical system that will function as a robotic surgical aid for navigating and facilitating surgical access, implant sizing, positioning and placement.
It is designing the system to integrate intra-operative digital imaging with a sophisticated robotic surgical assistant that maintains anatomical positioning during the surgery with sub-millimeter accuracy.
Excelsius Surgical claims that its robotic surgical system enables surgeons to perform procedures more quickly and with greater accuracy, safety and reproducibility than is currently available in the marketplace today.
Globus Medical chairman and CEO David Paul noted the company is very excited by the strategic fit and potential of Excelsius Surgical.
"Our product development efforts focus on products designed to minimize tissue disruption, blood loss and surgical complications, and we believe that the use of advanced technology solutions, such as the Excelsius Surgical system, will enable surgeons to consistently achieve better surgical outcomes.
"Recent trends in the adoption of navigation technology as well as advancements in imaging only serve to reinforce our belief that technology will play an increasingly greater role in surgery in the future. We believe that this acquisition positions Globus to be a leader in this important area," Paul added.
Globus Medical anticipates obtaining the US Food and Drug Administration clearance for the robotic positioning system in 2015, and expects to begin commercial launch in 2016.