Mazor Robotics struck a deal with Metronic last year, making the device industry giant the exclusive marketer for Mazor's newest iteration of its robotic spine surgery technology, Mazor X. Medtronic purchased 14 systems and the companies jointly sold 10 systems already in 2017.
Mazor CEO Ori Hadomi discussed the company's recent success with Globes: Israel's Business Arena. He reported Mazor has met its targets under the agreement faster than expected, and he isn't concerned they'll miss any of the milestones that would prevent Medtronic from extending the contract between the two.
"Even if we meet the milestone, the decision is still completely up to Medtronic," Mr. Hadomi said in the report. "I don't want to speak for Medtornic, but I will be surprised if it doesn't exercise the option before the deadline." The deadline is February 2018.
Hospitals with Mazor's original Renaissance robotic spine surgery system can trade in for the upgraded Mazor X, which has a shorter selling cycle: six to eight months, compared to one year.