09.22.15
Research Triangle Park, N.C.-based TransEnterix Inc., a robotics company specializing in minimally invasive robotic surgery, has acquired the surgical robotics division of Milan, Italy-based Sofar S.p.A. TransEnterix bought the division in a cash and stock transaction valued at $99.8 million. Sofar has developed the Telelap ALF-X advanced robotic system for minimally invasive surgery, which has an active CE Mark.
“The combination of Surgibot and ALF-X will allow TransEnterix to address a larger market opportunity with compelling patient, surgeon and hospital value,” said Todd M. Pope, president and CEO of TransEnterix. “We believe this combination accelerates our commercialization timeline and revenue ramp as we can immediately begin selling the ALF-X in many markets globally.”
“We believe joining with TransEnterix will make our vision to create the next wave of robotic surgery a reality,” said Andrea Biffi, CEO of Sofar, who has been appointed to the TransEnterix board of directors. “Our decision to become a significant shareholder reflects our belief that the company has built a strong team and will execute on this compelling opportunity.”
TransEnterix officials noted that the acquisition of Sofar’s surgical robotics division is anticipated to have a positive financial impact going forward. TransEnterix believes that the ability to commercialize the ALF-X system in the near-term under the existing CE Mark and the significantly expanded market opportunity could accelerate revenue growth more than previously anticipated.
“The combination of Surgibot and ALF-X will allow TransEnterix to address a larger market opportunity with compelling patient, surgeon and hospital value,” said Todd M. Pope, president and CEO of TransEnterix. “We believe this combination accelerates our commercialization timeline and revenue ramp as we can immediately begin selling the ALF-X in many markets globally.”
“We believe joining with TransEnterix will make our vision to create the next wave of robotic surgery a reality,” said Andrea Biffi, CEO of Sofar, who has been appointed to the TransEnterix board of directors. “Our decision to become a significant shareholder reflects our belief that the company has built a strong team and will execute on this compelling opportunity.”
TransEnterix officials noted that the acquisition of Sofar’s surgical robotics division is anticipated to have a positive financial impact going forward. TransEnterix believes that the ability to commercialize the ALF-X system in the near-term under the existing CE Mark and the significantly expanded market opportunity could accelerate revenue growth more than previously anticipated.