Medtronic partners with MediGuide to develop surgical navigational
8 February 2008
MediGuide has signed an agreement with Medtronic for co-development of
medical positioning system- (MPS) enabled products. The agreement is based
on providing Medtronic products with MediGuide's GPS-like (MPS) navigation
capabilities to enhance various procedures.
The set of agreements includes co-development and an optional equity
investment of Medtronic in MediGuide. The integration of the MediGuide MPS
navigation technology into Medtronic tools is expected (subject to receipt
of regulatory/clinical approvals) to enhance the physician's operation, as
well as the procedure duration and outcome. This relationship enlarges
MediGuide's portfolio of future products, together with its relationships
with leading imaging and device companies.
"We are very excited about this relationship," said Gera Strommer,
president and CEO of MediGuide. "Medtronic is the world leading company in
the field of implantable medical devices, and this agreement complies with
our strategy to bring the best value solutions for our customers and
partners and to bring our MPS technology to a wide range of applications."