MedTech Acquisition Corporation and Memic Innovative Surgery Ltd. mutually agree to terminate the business combination
TEL AVIV, Israel and FORT LAUDERDALE, Fla., March 10, 2022 (GLOBE NEWSWIRE) — MedTech Acquisition Corporation (Nasdaq: MTAC) (“MedTech”), a publicly traded special purpose acquisition company (SPAC) focused on medical technology, and Memic Innovative Surgery Ltd. (“Memic”), a medical device company dedicated to transforming surgery through its proprietary surgical robotics technology, today announced that the two companies have mutually agreed to terminate, effective immediately, their agreement to combine ‘companies previously announced as of August 12. , 2021 due to market conditions and associated volatility following recent global events.
“While we are disappointed that our proposed business combination with Memic will not materialize, we believe that Memic’s Hominis system and its innovative technology, together with Memic’s highly skilled management team, will position Memic for a future success,” said Chris Dewey, CEO of MedTech.
“With the recent adoption of our Hominis system by three major US hospitals, we are excited about the ability of the Hominis system to perform transvaginal robotic techniques that were previously unfeasible, addressing a significant unmet need in patient healthcare. women, with the potential to be applied to a wide range of indications in the future, including general surgery. We are grateful for the support we have received from the MedTech team, whose commitment to the surgical robotics,” said Dvir Cohen, co-founder and CEO of Memic.
Memic, founded in 2013 and headquartered in Tel Aviv, Israel, with a wholly-owned subsidiary based in Fort Lauderdale, Florida, is a medical device company dedicated to transforming surgery through its proprietary surgical robotic technology. For more information visit: https://memicmed.com/.
About MedTech Acquisition Corporation
MedTech Acquisition Corporation (Nasdaq: MTAC) is a blank check corporation formed for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization or consolidation of similar businesses with one or more businesses or entities. MedTech said it focuses on the medical technology industry in the United States and other developed countries.
This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements can be identified by the use of words such as “estimate”, “plan”, “project”, “anticipate”, “intend”, “expect”, “anticipate”, ” believe”, “seek”, “strategy”, “future”, “opportunity”, “may”, “target”, “should”, “should”, “would”, “will”, “will continue”, “probably result” or similar expressions which predict or indicate future events, performance or trends or which are not statements of historical matters. These forward-looking statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management of Memic and MedTech, are not predictions of actual performance and are subject to risks and uncertainties. Actual events and results could differ materially from those contained in the forward-looking statements. Further, forward-looking statements reflect the expectations, plans and views of Memic and MedTech as of the date they are made. Memic and MedTech anticipate that subsequent events and developments will cause Memic and MedTech’s assessments to change. Memic and MedTech specifically disclaim any obligation to update forward-looking statements as a result of new information, future events or otherwise, except as expressly required by applicable law.
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