Israel-based medical device company Memic Innovative Surgery has signed a definitive business combination agreement with special purpose acquisition company MedTech Acquisition.
Founded in 2013, Memic focuses on developing surgical robotic technology.
The company’s Hominis platform is the first US Food and Drug Administration (FDA) cleared surgical robot to feature miniature humanoid-shaped arms, with shoulder, elbow and wrist joints.
On closing the deal, the combined entity is estimated to have a pro-forma equity value of more than $1bn, assuming there are no redemptions by MedTech’s public stakeholders.
