Yes, from the Aug. 14th prospectus ... In the first quarter of 1997, Computer Motion and Medtronic entered into an agreement pursuant to which Medtronic will act as the Company's exclusive distributor of ZEUS for use in cardiothoracic applications in Europe, the Middle East and Africa.
Under this agreement, Medtronic and the Company will co-market ZEUS in North America for use in cardiothoracic applications. In addition, the Company granted to Medtronic a right of first refusal for distribution rights outside of Europe, the Middle East and Africa and for distribution or license rights for the use of ZEUS in cardiology, urology and neurology.
The Company anticipates cooperating closely with Medtronic in the areas of training, service and after-market support with regard to ZEUS.
In connection with the distribution and co-promotion arrangement, Medtronic invested $4.0 million in the Company in the form of a loan which converted into 363,743 shares of Common Stock of the Company. Pursuant to a one-time right granted to Medtronic in connection with
its purchase of the Medtronic Debenture, Medtronic has also committed to purchase from the Company 76,805 shares of Common Stock at a per share price of $13.02 (the initial public offering price per share, less underwriting discounts and commissions) in a private placement which will be consummated concurrently with the closing of this offering.
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