MEDICREA Announces the Appointment of an Independent Expert
03 Agosto 2020 - 10:16AM
Business Wire
The MEDICREA® Group (Euronext Growth Paris: FR0004178572 – ALMED
; OTCQX Best Market –MRNTF), pioneering the transformation of
spinal surgery through Artificial Intelligence, predictive modeling
and patient specific implants with its UNiD™ ASI (Adaptive Spine
Intelligence) proprietary software platform, services and
technologies, announces the appointment of an independent
expert.
Following the announcement of the voluntary and friendly cash
tender offer for the shares of Medicrea International (Euronext
Growth Paris: FR0004178572 - ALMED, PEA-PME eligible, and OTCQX:
MRNTF) (the "Company") by Medtronic (NYSE): MDT), details of which
are provided in the press release dated July 15, 2020 (the
"Offer"), and due to the existence of conflicts of interest related
to the Offer within the Board of Directors of the Company, it has
been decided to appoint an independent expert to prepare a report
on the financial terms of the Offer in accordance with the
provisions of articles 261-1 I and following articles of the
general regulations of the French markets authority (the « AMF»)
and AMF Instruction DOC-2006-08, as amended on February 10, 2020.
The report will contain a valuation of the Company targeted by the
Offer based on a multi-criteria approach including the
implementation of valuation methods and the examination of
valuation references.
The Board of Directors, in accordance with article 261-1 III. of
the AMF general regulations, set up on July 20, 2020 an ad hoc
committee composed of the following members:
- François-Régis ORY – Independent Director – Chairman of the ad
hoc committee
- Patrick BERTRAND – Director
- Christophe BONNET – Independent Director
It is specified that the purpose of the ad hoc committee is to
propose the appointment of an independent expert to the Board of
Directors, to monitor the work of the expert and to prepare a draft
reasoned opinion.
The Board of Directors, on the proposal of the ad hoc committee,
appointed Orfis as independent expert in charge of preparing the
report on the fairness of the Offer.
The independent expert's report and the reasoned opinion of the
Company's Board of Directors will be included in the draft reply
memorandum that will be prepared and submitted to the AMF for
approval.
About MEDICREA® (www.medicrea.com)
Through the lens of predictive medicine, MEDICREA® leverages its
proprietary software analysis tools with big data and machine
learning technologies supported by an expansive collection of
clinical and scientific data. The Company is well-placed to
streamline the efficiency of spinal care, reduce procedural
complications and limit time spent in the operating room.
Operating in a $10 billion marketplace, MEDICREA® is a Small and
Medium sized Enterprise (SME) with 175 employees worldwide, which
includes 35 who are based in the U.S. The Company has an
ultra-modern manufacturing facility in Lyon, France housing the
development and production of 3D-printed titanium patient-specific
implants.
For further information, please visit: medicrea.com.
Connect with MEDICREA® FACEBOOK |
INSTAGRAM | TWITTER | WEBSITE | YOUTUBE
MEDICREA® is listed on EURONEXT Growth Paris
EnterNext PEA PME 150 Index ISIN: FR 0004178572 Ticker: ALMED LEI:
969500BR1CPTYMTJBA37
MEDICREA® is traded on OTCQX Best Market
Ticker: MRNTF
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MEDICREA® Denys SOURNAC Founder,
Chairman and CEO dsournac@medicrea.com
Fabrice KILFIGER Chief Financial Officer
fkilfiger@medicrea.com
Tel: +33 (0)4 72 01 87 87