Globus Medical said on November 3 that it has acquired Synaptive Medical. Synaptive built surgical planning and navigation tools for complex cranial procedures, plus robotic digital microscopy and MRI systems. The deal closed on August 4, three months before Globus announced it. Globus disclosed no price.
Synaptive went into receivership first. The Ontario Superior Court of Justice appointed Richter Inc. as receiver on April 28, on an application by Export Development Canada. The court approved a sale and investment solicitation process on May 13 and set a June 5 bid deadline. An approval and reverse vesting order followed on July 10. Synaptive held premises in London and Mississauga, Ontario.
Globus wants the products alongside its Excelsius enabling technology line. CEO Keith Pfeil said the deal "accelerates our growth in this important market" and that Synaptive "brings proven surgical planning and visualization technology." The company says its first priority is continuity for Synaptive customers, and that it has started service and support outreach to the installed base.
A receivership sale is why no price appears and why the announcement waited a quarter. Anyone running a Synaptive system should get the service, parts and software update terms from Globus in writing.