MedTech Acquisition Corp.

Memic is the developer of Hominis —  the first FDA-approved, robotically assisted surgical device for performing transvaginal hysterectomy. [Image from Memic Innovative Surgery]Memic Innovative Surgery and the SPAC called MedTech Acquisition Corp. are calling off the merger that would have taken Memic public.

The two companies said the decision was mutual — the result of market conditions and associated volatility due to recent world events. Memic is the developer of Hominis —  the first FDA-approved, robotically assisted surgical device for performing transvaginal hysterectomy.

When announcing the proposed merger last year, the companies had said the deal would create a combined company with an estimated pro-forma equity value of more than $1 billion.

“While we are disappointed that our proposed business combination with Memic will not be consummated, we believe that Memic’s Hominis system and its innovative technology, as well as Memic’s highly accomplish…

Image from Memic Innovative Surgery

Memic Innovative Surgery announced that it entered into a merger agreement with special purpose acquisition company MedTech Acquisition Corp.

Tel Aviv, Israel-based Memic will operate under its current name upon the closing of the transaction, with Dr. Maurice R. Ferré — an independent director of MedTech and current chairman of Memic — will serve as executive chairman of the combined company. The companies expect the business combination to be completed in the fourth quarter of this year, according to a news release.

Listen to Dr. Maurice R. Ferré talk surgical robotics on the DeviceTalks Weekly Podcast.

Rumors of a potential SPAC merger popped up in May regarding Memic, which develops Hominis, the first FDA-approved, robotically assisted surgical device for performing transvaginal hysterectomy. At that time, there was no certainty over the completion of a deal.

“We are pleased…

Memic’s Hominis robot-assisted surgery platform. [Image from Memic Innovative Surgery]Memic Innovative Surgery is reportedly eyeing a move to go public through a merger with SPAC MedTech Acquisition Corp.

Bloomberg reported that people with knowledge of the matter say that Memic, which develops Hominis, the first FDA-approved robotically-assisted surgical device for performing transvaginal hysterectomy, is in talks over going public with the SPAC, although a MedTech Acquisition Corp. representative declined to comment to the outlet, while Memic didn’t immediately respond to requests for comment.

Additionally, the SPAC could raise additional equity through a PIPE (private investment in public equity), Bloomberg reported, while financial terms of the potential merger were not disclosed and there is the possibility that the talks could fall through without an agreement.

Last month, Memic raised $96 million in a Series D financing ro…