Medical device firm TransEnterix has purchased the surgical robotics division of Italian health care firm Sofar, for around $99.8m.
Under the deal, TransEnterix has acquired all of the intellectual property and other assets, employees and contracts related to the Telelap ALF-X robotic system.
TransEnterix has paid $25m in cash to Sofar and provided $43.7m worth shares of its common stock, based on closing price of $2.81 as of 18 September.
The deal will also include the payment of €27.5m to Sofar in three additional tranches based on the achievement of negotiated milestones.
TransEnterix president and CEO Todd Pope said: "The combination of SurgiBot and ALF-X will allow TransEnterix to address a larger market opportunity with compelling patient, surgeon and hospital value."
Sofar CEO Andrea Biffi said: "Our decision to become a significant shareholder reflects our belief that the company has built a strong team and will execute on this compelling opportunity.
Telelap ALF-X robotic system, which received CE mark approval, has been developed to carry out minimally invasive laparoscopic surgery.
Sofar has developed the Telelap ALF-X system in collaboration with the European Commission’s Joint Research Centre (JRC), which is a multi-port robotic system that provides surgeons with new technology such as eye tracking and haptics.
TransEnterix is also involved in the development and commercialization of the SurgiBot system, a robotically enhanced laparoscopic surgical platform that enables the surgeon to be patient-side within the sterile field.
The SurgiBot system has not yet received approval for sale in any market. In June this year, the firm submitted the 510(k) application with the US Food and Drug Administration (FDA) for clearance of the system.
Both SurgiBot and ALF-X systems have been developed to address trade-offs, required of surgeons when using currently available robots.
Image: TransEnterix has acquired surgical robotics division of Sofar. Photo: courtesy of stockimages/ FreeDigitalPhotos.net.