Bloomberg News

Mazor Gains Most Since May 2009 on Sales of Surgery Systems

October 02, 2011

(Updates with closing prices, analyst comment in second paragraph.)

Oct. 2 (Bloomberg) -- Mazor Robotics Ltd. rallied the most in more than two years after it sold two Renaissance spinal surgery systems in the U.S. and Germany.

The shares advanced 22 percent, the biggest gain since May 2009, to 3.53 shekels at the 4:30 p.m. close in Tel Aviv.

“Every publication about selling another robot is good news and proof of the company’s ability to deliver its product to the market,” said Natali Gotlieb, an analyst at I.B.I.- Israel Brokerage Investment in Tel Aviv. “These are second- generation robots. Their selling price is higher and Mazor’s ability to sell them at a higher price is very important.”

Mazor said on Aug. 11 its second-quarter loss widened to 10.5 million shekels ($2.8 million) from 3.7 million shekels a year earlier. The stock has retreated 40 percent since then compared with a 1.4 percent drop for Israel’s benchmark TA-25 index.

The declines are another reason for the stock’s rebound today, Gotlieb said. “It’s been awhile since we heard good news,” she said.

--Editors: Shanthy Nambiar, Claudia Maedler

To contact the reporter on this story: Gwen Ackerman in Jerusalem at gackerman@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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