Medtronic inks deal to distribute Alpha Omega’s neurosurgical nav tool
Monday, April 22, 2019
Medtronic (NYSE:MDT) has inked an agreement with Israel-based medtech developer Alpha Omega to market its surgical navigation products designed for procedures in the brain, according to a recent Globes report.
Prior to the agreement, Alpha Omega’s devices were offered as independent products and were mostly marketed to hospitals in Israel, according to the report.
Alpha Omega offers a system intended to guide the placement of electrodes within the brain, according to the Globes report. The system is often used in deep brain stimulation procedures intended to treat individuals with Parkinson’s Disease, guiding the implantation of permanent electrodes into patient’s brains.
The company was founded in 1993 by husband and wife duo Imad and Reem Younis as a subcontractor for designing and manufacturing medical devices, according to the report.
Fridley, Minn.-based Medtronic used to offer both a guidance and electrode system for brain procedures in the region, as competition for Alpha Omega, but no longer does so, according to the Globes report.
“Medtronic invests in innovation in order to achieve medical progress for the needs of patients and health systems, and regards Israel as a means for doing this,” Medtronic Israel country director Aaron Itzhari told the paper.
The medtech giant has acquired nearly 10 different businesses based out of Israel, including its $1.7 billion buy of robotic developer Mazor Robotics (NSDQ:MZOR), Odin Medical Technologies, Given Imaging, Ventor Technologies, SuperDimension, Visionsense and Orbotech, according to the Globes report.
Medtronic has not yet commented on the deal, and details have not yet been officially released from either company.