Mazor Surgical Technologies Ltd. (TASE:MZOR) has developed a new spinal fusion implant, the Topaz, and plans to apply for regulatory approval for it in Europe and the US.
The Topaz has already undergone biomechanical and other tests to prove that it meets US and European standards, and it has been demonstrated to doctors and won their support. Mazor expects to launch the product in the US and Europe later this year.
The Topaz will be implanted by a procedure already covered by the insurance indemnification code. Mazor therefore believes it will be able to charge full price upon commercial launch. The average payment for such implants in 2009 was $6,000 in the US and €1,500 in Europe.
The Topaz can be implanted using Mazor’s SpineAssist miniature robotic surgical systems. The Topaz is a supplementary product to the Go-Lif spinal implants in procedures for which the Go-Lif is not suited.
Mazor’s share price fell 0.9% by mid-afternoon today to NIS 11.13, giving a market cap of NIS 237 million.
