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Surgical robotics and navigation

For ten years, Apparius has advised surgical robotics and navigation companies, from their first funding rounds to their sale to global medtech groups.

Surgical robotics and navigation sit at the heart of Apparius’s practice. We have advised several of the most advanced French companies in the field, from their first funding rounds to their sale to large medical device groups.

These companies combine long development cycles, demanding regulatory pathways and significant capital needs before reaching profitability. Their natural acquirers are the global leaders in orthopaedics, spine and imaging, looking to add a robotics or navigation capability to their offering.

We know these acquirers, their business development teams and their criteria, as well as the specialist funds that finance the sector. This allows us to prepare a fundraising or a sale well in advance, then run the process through to signing.

Our transactions

Announced

Surgical navigation and robotics

Binding acquisition offer (€155M EV) from

Enovis

Exclusive advisor to the company
Healthcare Sept 2026 Announced

eCential Robotics

Surgical navigation and robotics

Type
Binding acquisition offer (€155M EV) from Enovis
Apparius’s role
Exclusive advisor to the company

Enovis (NYSE: ENOV) made a binding offer to acquire eCential Robotics at an upfront enterprise value of €155 million, with up to €35 million in milestone payments tied to the knee and shoulder programmes. eCential's spine surgery robot brings Enovis the robotics capability its offering lacked. Existing shareholders, including Bpifrance, Sigma Gestion and Med-Innov, are selling their shares. Closing is expected in the fourth quarter of 2026.

Transaction page Read the case study

Healthcare

3D surgical registration

€11M Series A from

Exclusive advisor to the company
Healthcare Aug 2024

SurgAR

3D surgical registration

Type
€11M Series A from Bpifrance, XAnge, Elaia
Apparius’s role
Exclusive advisor to the company

SurgAR develops augmented reality solutions for minimally invasive surgery. Closed just before CE marking of its first product, dedicated to uterine surgery, the round will accelerate its rollout in hospitals and the build-up of clinical data.

Transaction page

Healthcare

Robotic spinal surgery navigation

€10M strategic investment from

Financial advisor to management
Healthcare May 2024

SpinEM Robotics

Robotic spinal surgery navigation

Type
€10M strategic investment from Spineart
Apparius’s role
Financial advisor to management

Founded in 2021 by Stéphane Lavallée and Stéphane Morvan, SpinEM Robotics develops navigation software for spine surgery, designed for eCential Robotics' robotic platform. Spine specialist Spineart joined its share capital.

Transaction page

Healthcare

CT navigation systems

Acquired by

Exclusive advisor to the sellers
Healthcare Jan 2023

Imactis

CT navigation systems

Type
Acquired by GE HealthCare
Apparius’s role
Exclusive advisor to the sellers

After discussions with several major medical equipment makers, Imactis joined GE HealthCare, which acquired its entire share capital. The founders and the investors who came in in 2017, including M Capital, sold their shares. The IMACTIS CT-Navigation system guides the needle in real time during CT-guided interventional procedures.

Transaction page Read the case study

Healthcare

Bone surgery robotics

Series C from

Exclusive advisor to the company
Healthcare Jan 2021

eCential Robotics

Bone surgery robotics

Type
Series C from Bpifrance, Trail, MedInnov
Apparius’s role
Exclusive advisor to the company

To enter the US market, eCential Robotics (formerly Surgivisio) raised a Series C of around €75 million from its existing shareholders, Bpifrance, Sigma Gestion, Med-Innov and its founders, joined by new investors. Together with bank debt and a €15 million EIB loan, the financing reached close to €100 million, one of the largest ever raised by a French medtech company.

Transaction page Read the case study

Healthcare

Bone surgery robotics

€10.5M Series A from

Exclusive advisor to the company
Healthcare Mar 2018

eCential Robotics

Bone surgery robotics

Type
€10.5M Series A from Bpifrance, Trail, MedInnov
Apparius’s role
Exclusive advisor to the company

Then named Surgivisio, the Grenoble company founded by Stéphane Lavallée raised this round to obtain FDA clearance and enter the US market with its system combining imaging and surgical navigation.

Transaction page Read the case study

Healthcare

Orthopaedic surgical robotics

Acquired by

Exclusive advisor to the sellers
Healthcare Feb 2018

Orthotaxy

Orthopaedic surgical robotics

Type
Acquired by Johnson & Johnson
Apparius’s role
Exclusive advisor to the sellers

Orthotaxy was developing a next-generation robotic surgery platform for total and partial knee replacement. In a rare move at that stage of development, Johnson & Johnson acquired it through its French subsidiary Apsis; its technology went on to become a key component of the VELYS robotic solution.

Transaction page Read the case study

Healthcare

Interventional radiology

€3M Series A from

Exclusive advisor to the company
Healthcare Oct 2017

Imactis

Interventional radiology

Type
€3M Series A from M Capital, BNP Paribas, Crédit Agricole
Apparius’s role
Exclusive advisor to the company

Imactis developed a true 'GPS' for interventional radiology, showing the needle's trajectory in real time, already used by some thirty hospitals. This first round with financial investors, led by M Capital, funded its international rollout.

Transaction page

Healthcare

Bone surgery robotics

Seed round from

Exclusive advisor to the company
Healthcare Jun 2016

eCential Robotics

Bone surgery robotics

Type
Seed round from MedInnov
Apparius’s role
Exclusive advisor to the company

Then named Surgivisio, the Grenoble company closed its first funding round, complemented by Bpifrance support under the Worldwide Innovation Challenge. The funds financed the industrialisation of its mobile 2D/3D imaging system with real-time surgical navigation, initially designed for spine surgery.

Transaction page Read the case study

Case studies

Healthcare 2016 – 2026

eCential Robotics: from seed round to Enovis offer

Apparius has advised eCential Robotics (formerly Surgivisio) since its first financing rounds. Built on more than 15 years of research in computer-assisted surgery in Grenoble, the company developed Op.n®, a platform that combines 2D/3D imaging, surgical navigation and active robotics in a single architecture, cleared by the FDA for spine surgery.

We advised the company on its 2016 seed round with MedInnov, its €10.5M Series A in 2018 with Bpifrance and Trail, and its close to €100M financing in 2021, combining equity, quasi-equity and debt, which allowed it to scale up production and prepare its entry into North America.

In September 2026, Enovis (NYSE: ENOV) made a binding offer to acquire eCential Robotics at an upfront enterprise value of €155 million, with up to €35 million in milestone payments. Enovis plans to build a robotics centre of excellence in Grenoble around the team and to launch a next-generation robot, starting with the knee and then the shoulder. Closing is expected in the fourth quarter of 2026.

Exclusive financial advisor to the company

Healthcare 2023

Imactis sold to GE HealthCare

Imactis was a natural fit for the newly independent GE HealthCare, strengthening its capabilities in interventional guidance, particularly in CT-based procedures. The IMACTIS CT-Navigation system, which offers precise needle guidance for complex procedures, helps GE HealthCare improve procedural accuracy, reducing procedure time and radiation exposure.

For Imactis, the compelling argument was GE HealthCare’s ability to scale the technology globally and make it a standard in minimally invasive procedures.

Exclusive financial advisor to the sellers

Healthcare 2018

Orthotaxy acquired by Johnson & Johnson

In 2018, Johnson & Johnson acquired Orthotaxy, a French company developing a next-generation robotic-assisted surgery platform for total and partial knee replacement. The acquisition was a strategic move to integrate Orthotaxy’s technology into a comprehensive orthopaedic platform.

Orthotaxy’s technology went on to become a key component of the VELYS Robotic-Assisted Solution, designed for use with the ATTUNE Total Knee System and part of the broader VELYS Digital Surgery platform.

Exclusive financial advisor to the sellers

Other areas of focus

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