By Colin Kellaher
Xtant Medical Holdings Inc. on Wednesday said it has acquired the Coflex and Cofix product lines from fellow medical-technology company Surgalign Holdings Inc. for $17 million.
Xtant, based in Belgrade, Mont., said it expects the products to add about $14 million in annual revenue and help the company achieve profitability in the near future.
The Coflex device is an implant for the treatment of lumbar spinal stenosis, while Cofix is a supplemental fixation device.
Xtant posted revenue of $42.7 million and a loss of $6.3 million for the first nine months of 2022.
Surgalign, based in Deerfield, Ill., said the transaction provides non-dilutive capital that it will use to advance its platform of artificial-intelligence products.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
March 01, 2023 09:44 ET (14:44 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。