Sam Brusco, Associate Editor06.07.24
Asensus Surgical has entered a merger agreement with KARL STORZ Endoscopy-America.
KARL STORZ will acquire all outstanding Asensus shares for $0.35 in cash, representing a premium of about 67% based on Asensus’ stock closing price on April 2. Asensus’ board of directors has unanimously approved the transaction.
This news follows a non-binding letter of intent and discussions about a possible transaction released in April.
The deal enhances KARL STORZ’s portfolio and market presence in the robotic surgical market. This is bolstered by Asensus’ introduction of the next-gen LUNA robotic surgical platform last year.
The transaction’s completion is expected in Q3 of this year. After the deal is finished, Asensus will become a KARL STORZ Endoscopy-America subsidiary and no longer be publicly listed or traded on the NYSE American Exchange.
"We are pleased to have reached this agreement with KARL STORZ, which we believe maximizes value for our stockholders,” said Anthony Fernando, Asensus Surgical’s president and CEO. “This transaction is a testament to the value of our innovative robotic and digital technology, intellectual property, and the hard work of our talented team. We are excited to enter the next chapter for Asensus with KARL STORZ, which will allow us to continue to develop and deliver precise, safer, predictable surgery and digital tools to patients and surgeons around the world."
Late last year, Asensus began an agreement with Flex for design and manufacturing services for the LUNA surgical robotics platform.
KARL STORZ will acquire all outstanding Asensus shares for $0.35 in cash, representing a premium of about 67% based on Asensus’ stock closing price on April 2. Asensus’ board of directors has unanimously approved the transaction.
This news follows a non-binding letter of intent and discussions about a possible transaction released in April.
The deal enhances KARL STORZ’s portfolio and market presence in the robotic surgical market. This is bolstered by Asensus’ introduction of the next-gen LUNA robotic surgical platform last year.
The transaction’s completion is expected in Q3 of this year. After the deal is finished, Asensus will become a KARL STORZ Endoscopy-America subsidiary and no longer be publicly listed or traded on the NYSE American Exchange.
"We are pleased to have reached this agreement with KARL STORZ, which we believe maximizes value for our stockholders,” said Anthony Fernando, Asensus Surgical’s president and CEO. “This transaction is a testament to the value of our innovative robotic and digital technology, intellectual property, and the hard work of our talented team. We are excited to enter the next chapter for Asensus with KARL STORZ, which will allow us to continue to develop and deliver precise, safer, predictable surgery and digital tools to patients and surgeons around the world."
Late last year, Asensus began an agreement with Flex for design and manufacturing services for the LUNA surgical robotics platform.