Medtronic signed an agreement to market Israel-based Alpha Omega's surgical navigation products for brain procedures, according to a Globes report.
Five key notes:
1. The Alpha Omega system aims to guide electrodes of intra-brain stimulation systems and were previously independently marketed to hospitals. Now, they could be sold as part of a treatment package.
2. Prior to the deal, Medtronic marketed its own electrodes system along with its surgical guidance system in competition with Alpha Omega, but the report states all Israel-based medical centers that include deep brain stimulation use the Alpha Omega product.
3. Alpha Omega reports more than $10 million in annual revenue while Medtronic has a market cap of $114 billion.
4. This isn't Medtronic's first foray into Israel; the company previously partnered with Mazor Robotics, a company focused on spinal robotics, which it acquired for $1.64 billion.