Mazor has first California SpineAssist sale

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Mazor Robotics Ltd. (TASE:MZOR) has sold its robotic spinal surgical system, the SpineAssist, to the University of California Irvine Medical Center. The company did not disclose the amount of the sale, the first on the US West Coast.

Mazor says that the sale, as well as future sales, of the SpineAssist to US medical centers will increase recognition of the system’s advantages, expose the technology and its ease of use to a new generation of spinal orthopedic surgeons and neurologists.

Mazor CEO Ori Hadomi said that the sale is strategically important because it could influence other leading medical schools in California and in other states in the US to buy the system. The company said that the UC Irvine Medical Center is leader in adopting and applying robotic surgical technologies, and that installation of the SpineAssist at the hospital could lead to numerous clinical studies, papers, and presentations about the system by the hospital staff.

Hadomi said, “I am pleased that our marketing effort in the US has resulted in the first sale of the robotic system to a prestigious medical center in California, constituting professional recognition, and an important business opportunity for more sales to leading medical schools in California and in other states in the US… The sale of the system exposes the company’s technology and could promote its adoption as the future treatment standard.” He added, “The US market is an important springboard for boosting the company’s sales. We believe that advantages of our proprietary robotic system will increase the rate of Mazor’s sales in 2011.”

Mazor’s share price rose 1.3% by midday on the TASE to NIS 9.95, giving a market cap of NIS 195 million.

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