Sam Brusco, Associate Editor08.11.23
Xtant Medical Holdings has completed the acquisition of certain assets and liabilities related to biologics and spinal fixation offerings from Surgalign, under a Bankruptcy Court supervised process for $5 million.
The deal began almost two months ago.
“We are thrilled to add to our growing orthobiologics and spinal fusion device portfolio, while expanding our commercial footprint with new contracts and distributors with the completion of this acquisition,” Sean Browne, president and CEO of Xtant Medical told the press. “Looking ahead, our focus will be integrating this business with our current offerings with the goal of maximizing the full potential of these assets.”
As a result, Xtant raised its expectation for full year 2023 revenue range to $75-77 million, up from prior guidance of 73-75 million.
Xtant also acquired Surgalign’s Coflex and Cofix lines earlier this year. The company seeks to build a comprehensive portfolio or orthobiologics and spinal implant systems to facilitate spinal fusion for complex spine, deformity, and degenerative procedures.
The deal began almost two months ago.
“We are thrilled to add to our growing orthobiologics and spinal fusion device portfolio, while expanding our commercial footprint with new contracts and distributors with the completion of this acquisition,” Sean Browne, president and CEO of Xtant Medical told the press. “Looking ahead, our focus will be integrating this business with our current offerings with the goal of maximizing the full potential of these assets.”
As a result, Xtant raised its expectation for full year 2023 revenue range to $75-77 million, up from prior guidance of 73-75 million.
Xtant also acquired Surgalign’s Coflex and Cofix lines earlier this year. The company seeks to build a comprehensive portfolio or orthobiologics and spinal implant systems to facilitate spinal fusion for complex spine, deformity, and degenerative procedures.