Israeli Financial Institution Phoenix Holdings Leads $6.3 Million in New Funding Round for Mazor Robotics

Based in Caesarea, Israel, Mazor Robotics announced on February 24, 2011, that it has completed a $6.3 million funding round that was led by Israeli Financial Institution Phoenix Holdings. Other top Israeli investment firms also took part in this funding round.

Mazor Robotics is a company which develops surgical robots which are used in complicated and typically invasive surgeries. These robots provide a safer surgical environment for patients by making smaller incisions and allowing the surgeons who are performing the surgery to view inside the body and perform the surgery without cutting open the patient. This in turn also reduces the risk of infection and other complications that can result in difficult surgeries.

One of the flagship products that Mazor Robotics provides clients include the SpineAssist, which is a unique robotic device that is specifically designed to perform spinal surgeries, which are very often difficult to perform with a robot. The SpineAssist robot that Mazor has developed is already in use in many hospitals in both the United States and Europe.

What is so great about the SpineAssist robot is that effectively performs surgeries on the spine, such as implants with the less likelihood of misplaced screws.

According to Ori Madori, the CEO of Mazor Robotics, completing this funding round is a very important milestone for the company. The team at Mazor is furthermore, honored and pleased that some of Israel’s top financial institutions have chosen to invest in the company. Mr. Madoni further stated that the proceeds from this funding round will go to continue significantly expand Mazor’s operations worldwide.

The funding will also help the company expand its market share. Mr. Madoni further added that his executive team at Mazor has already made great strides by having their SpineAssist robot already in many hospitals in both the United States and Europe. Mr. Madoni further added that his team is also looking forward to provide its new technology to other hospitals and help their surgeons and patients.

Just recently, prior to this funding round, Mazor Robotics just hired Mr. Christopher Sells, who is a 20 year veteran in the medical robotic sector. Prior to coming to Mazor, Mr. Sells was first with Intuitive Surgical as its vice president of sales and marketing. Mr. Sells was primarily hired to run and oversee the company’s US sales and marketing operations. Along with Mr. Sells, Mazor also hired some other top American sales executives to run its US sales and marketing operations.