Here are five points:
1. Wells Fargo had previously rated the company “market perform.”
2. Mazor Robotics generated revenues of $6.4 million for the first quarter of 2016, a 42 percent increase from $4.5 million for the same period last year.
3. The company also reported United States-generated revenue more than doubled to $5.6 million in this quarter, from $2.7 million in 2015’s first quarter.
4. The company has a market cap of $226 million.
5. The new deal with Medtronic includes the co-promotion and development and distribution of Mazor products. Medtronic also made an equity investment in Mazor.
More articles on devices:
Histogenics acquires sole development, marketing rights for NeoCart in Japan: 5 key notes
Study: Cartiva SCI an effective for toe osteoarthritis treatment — 4 points
Medtronic invests in Mazor, inks commercial agreement: 6 things to know
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
