Medical device company TransEnterix, has acquired all of the assets, which includes technology and intellectual property, of Israel-based MST Medical Surgery Technologies.
MST Medical Surgery Technologies (MST) is focused on surgical technology filed. The company developed a software-based image analytics platform powered by advanced visualization, scene recognition, artificial intelligence, machine learning and data analytics.
The deal, which is valued at nearly $32m, adds advanced surgical image analytics technology capabilities to TransEnterix’s Senhance digital laparoscopy platform.
TransEnterix will transfer Israeli-based R&D team of MST Medical Surgery Technologies to a newly formed subsidiary, TransEnterix Israel.
MST CEO Motti Frimer said: “We are very excited to be partnering with TransEnterix, one of the leaders in surgical robotics who is pioneering the industry with their Senhance platform.
“The Senhance is a fantastic product with incredible potential, and we have a shared vision with TransEnterix of providing digital laparoscopy to better equip surgeons with innovative technologies that enhance their abilities, providing better quality, more consistent outcomes.”
TransEnterix said the acquisition of MST’s technology, intellectual property portfolio, and R&D team supports and accelerates its vision to use its Senhance Surgical System platform in offering digital laparoscopy and to increase control in the surgical environment and reducing surgical variability.
MST’s technology and software engine can enhance Senhance platform with benefits of digital laparoscopy for patients, surgeons and operating rooms globally.
Crucial components of MST’s technology include advanced visualization, scene recognition, artificial intelligence, machine learning and data analytics.
The transaction will also provide an immediate access to the established R&D center of MST in Israel, which is supported by a team of experienced engineers.
TransEnterix president and CEO Todd Pope said: “Adding innovative, novel technological capabilities to Senhance is a critical part of our long-term strategy as we work towards digitizing the interface between the surgeon and the patient.
“The addition of the MST technology to our Senhance platform will increase the effectiveness of surgeons, making procedures quicker and less error-prone, leading to better outcomes for the patient.”
This deal will include a combination of cash and stock and will be delivered in two separate tranches.
In the first tranche, MST will receive nearly $5.8m in cash and 3,150,000 shares of the North Carolina-based company. The second tranche of $6.6m will be payable either in cash or stock, within one year of closing the deal.