MAKO Surgical Corp. Announces Completion of the Acquisition of Assets of
Pipeline Biomedical Holdings
FT. LAUDERDALE, Fla., Oct. 8, 2013 (GLOBE NEWSWIRE) -- MAKO Surgical Corp.
(Nasdaq:MAKO) today announced that it has completed the acquisition of
Pipeline Biomedical Holdings, Inc.'s business dedicated to the design,
development, manufacture and commercialization of orthopedic devices and
related instruments for use with both robotic devices and manual medical
procedures. Since 2010 Pipeline has been MAKO's partner in developing and
supplying advanced implant technologies for use with MAKO's RIO® Robotic-Arm
Interactive Orthopedic system, including the proprietary MAKO-branded
RESTORIS® PST Cup and Tapered Stem hip implant system for use with the RIO's
MAKOplasty® Total Hip Arthroplasty software application.
The purchase price for the transaction consisted of a credit for a cash down
payment previously paid to Pipeline in the amount of $2,500,000 and the
issuance at closing of an aggregate of 3,953,771 unregistered shares of common
stock of MAKO.
MAKO Surgical Corp. is a medical device company that markets its RIO®
Robotic-Arm Interactive Orthopedic system, joint specific applications for the
knee and hip, and proprietary RESTORIS® implants for orthopedic procedures
called MAKOplasty®. The RIO is a surgeon-interactive tactile surgical platform
that incorporates a robotic arm and patient-specific visualization technology,
which enables precise, consistently reproducible bone resection for the
accurate insertion and alignment of MAKO's RESTORIS implants. The MAKOplasty
solution incorporates technologies enabled by an intellectual property
portfolio including more than 300 U.S. and foreign, owned and licensed,
patents and patent applications. Additional information can be found at
CONTACT: MAKO Surgical Corp.
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