Memic Innovative Surgery and MedTech Acquisition today announced a definitive agreement for a business combination. The combined companies are valued at an estimated pro-forma equity value of more than $1 billion.
The combined company’s estimated cash balance will consist of MedTech’s $250 million cash held in trust, assuming no redemptions by public stockholders, a $76 million PIPE and $63 million from the current balance sheet of Memic, less estimated transaction expenses and operational expenses through closing.
Memic was founded in 2013 and based in Tel Aviv, Israel with a wholly owned subsidiary based in Fort Lauderdale, Florida. The medical device company is engaged in surgery innovation with its proprietary robotic technology. Read more.
