KARL STORZ Acquires Asensus Surgical for $0.35 per Share in Cash
Asensus Surgical has recently announced a significant development in the medical technology industry. The company has entered into a definitive merger agreement with KARL STORZ Endoscopy-America, a global medical technology company. Under this agreement, KARL STORZ will acquire all outstanding shares of Asensus Surgical for $0.35 per share in cash.
This acquisition marks a strategic move for KARL STORZ, allowing them to enhance their portfolio and market presence. The purchase price represents a premium of approximately 67% based on the closing price of Asensus common stock on the NYSE American on April 2, 2024. The transaction has been unanimously approved by Asensus’ Board of Directors, signaling a positive outlook for the merger.
The merger is expected to strengthen KARL STORZ’s position in the robotic surgical market, especially with the development of the next generation LUNA system. Asensus Surgical is committed to expeditiously securing stockholder approval of the transaction and closing the deal as per the terms of the Merger Agreement. The anticipated timeline for the transaction to close is during the third quarter of 2024, subject to customary closing conditions and approval from Asensus stockholders.
Upon completion of the acquisition, Asensus Surgical will operate as a subsidiary of KARL STORZ Endoscopy-America and will no longer be publicly listed or traded on the NYSE American Exchange. This move is expected to have a significant impact on the medical technology industry and further solidify KARL STORZ’s position in the market.
In conclusion, the acquisition of Asensus Surgical by KARL STORZ for $0.35 per share in cash is a strategic decision that will reshape the landscape of the robotic surgical market. This merger is set to bring about new opportunities and advancements in medical technology, benefiting both companies and the industry as a whole.