MAKO Surgical Corp. Announces Completion of the Acquisition of Assets of Pipeline Biomedical Holdings
October 08 2013 - 4:05PM
MAKO Surgical Corp. (Nasdaq:MAKO) today announced that it has
completed the acquisition of Pipeline Biomedical Holdings, Inc.'s
business dedicated to the design, development, manufacture and
commercialization of orthopedic devices and related instruments for
use with both robotic devices and manual medical procedures. Since
2010 Pipeline has been MAKO's partner in developing and supplying
advanced implant technologies for use with MAKO's RIO® Robotic-Arm
Interactive Orthopedic system, including the proprietary
MAKO-branded RESTORIS® PST Cup and Tapered Stem hip implant system
for use with the RIO's MAKOplasty® Total Hip Arthroplasty software
application.
The purchase price for the transaction consisted of a credit for
a cash down payment previously paid to Pipeline in the amount of
$2,500,000 and the issuance at closing of an aggregate of 3,953,771
unregistered shares of common stock of MAKO.
About MAKO
MAKO Surgical Corp. is a medical device company that markets its
RIO® Robotic-Arm Interactive Orthopedic system, joint specific
applications for the knee and hip, and proprietary RESTORIS®
implants for orthopedic procedures called MAKOplasty®. The RIO is a
surgeon-interactive tactile surgical platform that incorporates a
robotic arm and patient-specific visualization technology, which
enables precise, consistently reproducible bone resection for the
accurate insertion and alignment of MAKO's RESTORIS implants. The
MAKOplasty solution incorporates technologies enabled by an
intellectual property portfolio including more than 300 U.S. and
foreign, owned and licensed, patents and patent applications.
Additional information can be found at www.makosurgical.com.
CONTACT: MAKO Surgical Corp.
954-628-1706
investorrelations@makosurgical.com
or
Westwicke Partners
Mark Klausner
443-213-0500
makosurgical@westwicke.com
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