In the wake of three successful robotic brain surgeries, Mazor Robotics Ltd., a developer of innovative surgical robots and complementary products, announced that its Korean distributor, BR Holdings, received marketing clearance from the Korean Food & Drug Administration (KFDA) to market Mazor?s Renaissance system. Bloomberg News also reported the company?s stock advanced 6.1% in intraday trading to 4.24 shekels, the highest level since May 17.
Renaissance is Mazor Robotics? surgical guidance system for spine procedures. BR Holdings is a leading distributor of robotic surgery technologies and instruments in Korea.
It is typical for the local distributor to take responsibility for securing Korean regulatory clearances, and BR Holdings is also presently pursuing reimbursement. In partnership with BR Holdings, Mazor will immediately begin to market Renaissance to establish early adopters and build local clinical experience
?Korean spine surgeons performed 120,000 cases in 2008, reflecting 18% annual
growth from 2003; per capita, it is the second largest spine surgery market globally, and the country adopts new technologies with enthusiasm,? said Ori Hadomi, CEO of Mazor. ?As an example, the Korean healthcare system currently supports 36 da Vinci surgical robots. We expect Korea to be a very strong market for our surgical robots and serve as a gateway to the Asia Pacific region, as it has in the past for other robotic technologies.?