Sam Brusco, Associate Editor03.02.23
Xtant Medical, a company focused on surgical solutions to treat spinal disorders, and Surgalign, have completed a transaction between the two companies. Xtant acquired the Coflex and Cofix product lines from Surgalign for $17 million.
Coflex is an interlaminar stabilization device used after an open decompression, offering a non-fusion treatment for lumbar spinal stenosis (LSS) patients. It’s the only FDA PMA-approved implant for LSS treatment and has been implanted in over 200,000 patients in over 60 countries.
Cofix is a supplemental fixation device, a minimally invasive system for use on all levels of the lumbar spine.
“We are thrilled to acquire the Coflex and Cofix product lines, which will help accelerate our top-line growth and position Xtant to achieve critical mass,” Sean Browne, president and CEO of Xtant Medical told the press. “Coupled with our less invasive Axle interspinous device and Silex SI Fusion product lines, Coflex augments our offering in the fast-growing segments of ASC and outpatient procedures. Aligning with our key growth pillars, this acquisition expands our footprint by adding new distributors and a significant number of trained surgeons to the Company’s network. We expect these products to add approximately $14 million in annual revenue and attractive margins to enable Xtant to achieve profitability in the near future.”
Terry Rich, president and CEO of Surgalign, added, “We believe that Coflex and Cofix are great products for patients and with Xtant, we have found the right partner that will continue the legacy and drive value for all customers. This transaction provides us with non-dilutive capital which will be used to advance our leading platform of artificial intelligence products across the entire continuum of care. Moving forward, we are focused on commercializing our HOLO Portal Surgical Guidance System, our soon to be launched HOLO AI Insights for research-use, and further developing our HOLO AI platform, while driving innovation in our remaining product lines to improve patient outcomes.”
Coflex is an interlaminar stabilization device used after an open decompression, offering a non-fusion treatment for lumbar spinal stenosis (LSS) patients. It’s the only FDA PMA-approved implant for LSS treatment and has been implanted in over 200,000 patients in over 60 countries.
Cofix is a supplemental fixation device, a minimally invasive system for use on all levels of the lumbar spine.
“We are thrilled to acquire the Coflex and Cofix product lines, which will help accelerate our top-line growth and position Xtant to achieve critical mass,” Sean Browne, president and CEO of Xtant Medical told the press. “Coupled with our less invasive Axle interspinous device and Silex SI Fusion product lines, Coflex augments our offering in the fast-growing segments of ASC and outpatient procedures. Aligning with our key growth pillars, this acquisition expands our footprint by adding new distributors and a significant number of trained surgeons to the Company’s network. We expect these products to add approximately $14 million in annual revenue and attractive margins to enable Xtant to achieve profitability in the near future.”
Terry Rich, president and CEO of Surgalign, added, “We believe that Coflex and Cofix are great products for patients and with Xtant, we have found the right partner that will continue the legacy and drive value for all customers. This transaction provides us with non-dilutive capital which will be used to advance our leading platform of artificial intelligence products across the entire continuum of care. Moving forward, we are focused on commercializing our HOLO Portal Surgical Guidance System, our soon to be launched HOLO AI Insights for research-use, and further developing our HOLO AI platform, while driving innovation in our remaining product lines to improve patient outcomes.”