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ATEC entered into an agreement to acquire EOS imaging for USD $79.7 million in cash, plus the retirement debt of $37.2 million, for a total value of $116.9 million. The transaction is expected to close in 2Q21.
ATEC originally extended an offer to acquire EOS in February 2020, which was terminated in April 2020, influenced by the negative market impacts of COVID-19.
For 2020, EOS imaging expects to post revenue of €23.3 million (~$28.5 million). ATEC estimates 2020 pro forma combined revenue of $173 million, reflecting $28.4 million from EOS and $144.7 million from ATEC, and estimated 2021 revenue of $222 million.
EOS imaging offers rapid, low dose, biplanar full-body imaging and 3D modeling capabilities. The technology captures a calibrated, full-body image in a standing position, which drives a more accurate understanding of patient alignment during diagnosis, characterizes bone quality, elevates the likelihood of surgical goal fulfillment by integrating a fully informed plan into surgery, and supports a post-operative assessment against the original surgical plan.
EOS imaging technology will join ATEC’s AlphaInformatiX platform for spinal surgery. The transaction provides immediate access to EOS’ 380-unit installed base and expedites ATEC’s future ability to penetrate key international markets.
“ATEC Spine and EOS both believe in the power of information to improve surgical outcomes,” said Mike Lobinsky, Chief Executive Officer of EOS imaging. “We are pleased to revisit this transaction and eager to combine the strengths an d know-how of our organizations. I am confident that we will quickly create a highly differentiated, end-to-end informational offering that will accelerate growth in the U.S. and pave the way for the future global growth of our combined entity.”
“SafeOp has substantiated the value of clinically actionable information by accelerating product adoption across our portfolio,” said Pat Miles, Chairman and Chief Executive Officer. “Our original investment thesis for EOS as a solution to better inform surgery never changed. With this transaction, we take another major step toward distinguishing ATEC clinical performance with improved information from diagnosis through follow-up.”
ATEC entered into an agreement to acquire EOS imaging for USD $79.7 million in cash, plus the retirement debt of $37.2 million, for a total value of $116.9 million. The transaction is expected to close in 2Q21.
ATEC originally extended an offer to acquire EOS in February 2020, which was terminated in April 2020, influenced by the...
ATEC entered into an agreement to acquire EOS imaging for USD $79.7 million in cash, plus the retirement debt of $37.2 million, for a total value of $116.9 million. The transaction is expected to close in 2Q21.
ATEC originally extended an offer to acquire EOS in February 2020, which was terminated in April 2020, influenced by the negative market impacts of COVID-19.
For 2020, EOS imaging expects to post revenue of €23.3 million (~$28.5 million). ATEC estimates 2020 pro forma combined revenue of $173 million, reflecting $28.4 million from EOS and $144.7 million from ATEC, and estimated 2021 revenue of $222 million.
EOS imaging offers rapid, low dose, biplanar full-body imaging and 3D modeling capabilities. The technology captures a calibrated, full-body image in a standing position, which drives a more accurate understanding of patient alignment during diagnosis, characterizes bone quality, elevates the likelihood of surgical goal fulfillment by integrating a fully informed plan into surgery, and supports a post-operative assessment against the original surgical plan.
EOS imaging technology will join ATEC’s AlphaInformatiX platform for spinal surgery. The transaction provides immediate access to EOS’ 380-unit installed base and expedites ATEC’s future ability to penetrate key international markets.
“ATEC Spine and EOS both believe in the power of information to improve surgical outcomes,” said Mike Lobinsky, Chief Executive Officer of EOS imaging. “We are pleased to revisit this transaction and eager to combine the strengths an d know-how of our organizations. I am confident that we will quickly create a highly differentiated, end-to-end informational offering that will accelerate growth in the U.S. and pave the way for the future global growth of our combined entity.”
“SafeOp has substantiated the value of clinically actionable information by accelerating product adoption across our portfolio,” said Pat Miles, Chairman and Chief Executive Officer. “Our original investment thesis for EOS as a solution to better inform surgery never changed. With this transaction, we take another major step toward distinguishing ATEC clinical performance with improved information from diagnosis through follow-up.”
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JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
