Surgical Robotics Technology

Memic and MedTech Acquisition Corporation Announce Business Combination Agreement

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Upon the closing of the transaction, the combined company will operate under the Memic name.

Memic Innovative Surgery, a medical device company dedicated to transforming surgery with its proprietary surgical robotic technology, and MedTech Acquisition Corporation, a publicly traded special purpose acquisition company (SPAC) focused on medical technology, including surgical robotics, today announced that they have entered into a definitive agreement for a business combination. Upon the closing of the transaction, the combined company will operate under the Memic name and Maurice R. Ferré, MD, an independent director of MedTech and current Chairman of the board of Memic, will become Executive Chairman of the combined company. Memic will apply to have its ordinary shares listed on The Nasdaq Stock Market. The business combination is expected to be completed in the fourth quarter of 2021.

“We are pleased to reach a merger agreement with MedTech, which represents a significant opportunity to advance the robot-assisted surgery market in ways that, until now, have been unattainable,” said Dvir Cohen, co-founder and Chief Executive Officer of Memic. “We believe the Hominis platform has the potential to transform the way surgeons perform robot-assisted procedures, beginning with our currently FDA-authorized indications that include transvaginal benign hysterectomy. Our partnership with the MedTech team, which provides decades of collective experience in surgical robotics, is an important step in bringing our advanced technology to medical facilities and patients across the United States and the world. We look forward to entering the public markets and working together with MedTech in the next phase of our company’s journey.”

“This agreement with Memic reflects the continued commitment of our management team and board of directors to deliver value to our stockholders,” said Chris Dewey, Chief Executive Officer of MedTech. “Following a comprehensive review of investment opportunities, we were impressed with the highly accomplished management team at Memic and its disruptive, minimally invasive, cost-effective Hominis system, which positions the Company well for substantial growth and profitability. We believe that Memic’s innovative technology, coupled with our team’s expertise in successfully commercializing medical device companies, has the potential to create significant value for stockholders in the years ahead.”

“We believe that the Hominis platform represents the most significant advancement in soft-tissue surgical robotics in recent decades and this agreement further validates how our technology is positioned to transform the surgical robotics sector,” said Maurice R. Ferré, MD, Co-founder of MAKO Surgical, Inc. “Hominis is able to perform robotic transvaginal techniques that were previously unfeasible, fulfilling a significant unmet need in women’s health, and we believe it has the potential to be applied to a broad range of indications in the future including general surgery.”

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Source: Memic Innovative Surgery.

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