NEW YORK, June 10, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been appointed by Mazor Robotics Ltd. as depositary bank for its American depositary receipt (ADR) program. Each Mazor Robotics ADR represents two ordinary shares and trades on NASDAQ under the symbol "MZOR." Mazor Robotics' ordinary shares trade on the Tel Aviv Stock Exchange under the symbol "MZOR."
Mazor Robotics develops innovative surgical guidance systems and complementary products in the spinal surgery market that have been used in more than 35,000 implants in the U.S., Asia and Europe. Its flagship product, Renaissance, is a state-of-the-art system that enables surgeons to conduct spinal surgeries accurately. Numerous peer-reviewed publications and presentations at leading scientific conferences have validated the accuracy, usability and clinical advantages of Mazor Robotics' technology.
"The momentum created by the successful market penetration of our Renaissance systems, coupled with the availability of our ADRs on NASDAQ, means U.S. investors will be able to share in our continued progress," commented Ori Hadomi, Mazor Robotics' president and CEO.
"Mazor's decision shows yet another Israeli company understanding the many benefits of DRs both for issuing companies and their investors abroad," said Christopher M. Kearns, CEO of BNY Mellon's Depositary Receipts business. "We believe their listing in the U.S. has the potential to widen Mazor's investor base dramatically."
BNY Mellon acts as depositary for more than 2,700 American and global depositary receipt programs, acting in partnership with leading companies from 68 countries. BNY Mellon is committed to helping securities issuers access the world's rapidly evolving financial markets and delivers a comprehensive suite of depositary receipt services. Learn more at www.bnymellon.com/dr
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 36 countries and more than 100 markets. As of March 31, 2013, BNY Mellon had $26.3 trillion in assets under custody and/or administration, and $1.4 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at bnymellon.com, or follow us on Twitter @BNYMellon
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.
SOURCE BNY Mellon