Mazor Robotics signs agreement with Cicel (Beijing) Science for Renaissance system
Mar 13, 2012 (Datamonitor Financial Deals Tracker via COMTEX) --
Mazor Robotics, Ltd., an Israel-based developer and marketer of surgical robots and complementary products, has signed an agreement with Cicel (Beijing) Science & Technology Co., Ltd. to distribute Mazor's Renaissance(TM) system in China.
Cicel is a China-based distributor of advanced medical devices.
As part of the agreement, Cicel is committed to purchasing three Renaissance systems. Cicel will use these systems to pursue regulatory clearance for Renaissance from the State Food and Drug Administration (SFDA) in China and to establish marketing activities in China.
Cicel will be responsible for securing the necessary regulatory clearance, which Mazor expects will take two years. Cicel will have exclusive rights to market and distribute the system in China for three years following the receipt of SFDA clearance. Mazor has received a first installment on account of the total consideration for the systems from Cicel. The delivery of the three Renaissance systems is subject to fulfillment of preset conditions.
Deal Type Partnership
Deal Status Announced: 2012-03-12
Partner 1 (Company) Cicel (Beijing) Science & Technology Co., Ltd.
Partner 2 (Company) Mazor Robotics, Ltd.
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