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.
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