Caesarea, Israel-based Mazor, which last month closed a third, $40 million tranche as part of its deal with Medtronic (NYSE:MDT), said it expects to post sales of $17.2 million for the 3 months ended Sept. 30.
That includes 11 Mazor X systems sold to Fridley, Minn.-based Medtronic and another eight sold to other customers in the U.S., Asia and Israel, Mazor said. There were three orders for Renaissance systems from its Chinese distributor, the company said.
“This quarter we transferred to Medtronic members of our talented capital sales team along with a solid sales pipeline. This transition was performed in a smooth and effective manner and we maintained robust sales activity during the transition period,” CEO Ori Hadomi said in prepared remarks. “The continued strong performance in the third quarter of 2017 reflects the increased demand and interest in Mazor’s robotic platforms.”
Mazor said it plans to report its full third-quarter results around Nov. 7.
The news sent MZOR shares up 1.9% to $53.59 apiece today in mid-afternoon trading.