Xtant Medical Completes Acquisition of Surgalign’s Hardware and Biologics Business.

Xtant Medical Holdings (NYSE American: XTNT) has successfully acquired assets and liabilities linked to Surgalign Holdings’ biologics and spinal fixation offerings, valued at $5 million along with assumed liabilities. Xtant Medical, a global surgical solutions company focusing on spinal disorders, aims to enhance its orthobiologics and spinal fusion device portfolio. The acquisition extends the company’s commercial reach through new contracts and distributors. The move contributes to Xtant Medical’s raised 2023 revenue projection of $75 million to $77 million. The acquisition’s integration will be aimed at optimizing these newfound assets.

Xtant Medical Holdings, Inc. (NYSE American: XTNT), a global medical technology company focused on surgical solutions for the treatment of spinal disorders, today announced that it completed the acquisition of certain assets and liabilities related to the domestic and international biologics and spinal fixation offerings of Surgalign Holdings, Inc. under a Bankruptcy Court supervised process for $5 million, plus assumed liabilities, in an all-cash transaction.

“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,” said Sean Browne, President and Chief Executive Officer of Xtant Medical. “Looking ahead, our focus will be integrating this business with our current offerings with the goal of maximizing the full potential of these assets.”

2023 Financial Guidance

As previously announced on August 1, 2023, Xtant Medical raised its expectation for full year 2023 revenue range to $75 million to $77 million, up from the Company’s prior guidance of $73 million to $75 million. The Company expects to provide updated full year guidance incorporating the acquisition upon the announcement of third quarter 2023 financial results.

Source: Bio Space