Bacterin Acquires Spinal Surgery Device Manufacturer X-spine Systems
Montana bone graft material developer Bacterin International Holdings announced it is acquiring Ohio-based X-spine Systems, a manufacturer of medical devices for spinal surgery.
Bacterin announced the deal includes $60 million in cash, 4.24 million shares of the company’s common stock and the assumption of about $13 million in X-spine debt.
Bacterin, which develops, manufactures and markets biologics products to optimize growth factors to promote bone growth, subchondral repair and dermal growth, says X-spine’s state-of-the-art implants and instrumentation are complementary to its portfolio. X-spine emphasizes less-invasive treatments for degenerative spinal disease.
Concurrent with the deal, Bacterin will change its name to Xtant Medical Holdings. X-spine CEO David Kirschman will join the management team as executive vice president and chief scientific officer. Kirschman will also be present of X-spine Systems, the company’s hardware subsidiary. — John Bechtel