Investment firm Altus Capital acquired ChoiceSpine, manufacturer of implants, instrumentation and orthobiologics for use in complex spine procedures.
Founders Rick Henson and Marty Altshuler will continue to invest in the company, while Altus’ support will help with development of current and new products—including expansion to new verticals.
ChoiceSpine formed in 2006 after acquiring the assets of Orthotec. ChoiceSpine picked up Baxano’s VEO™ lateral access interbody fusion system in 2015, and gained Exactech’s divested spine products in 2017. Other technologies include the 3D-printed HAWKEYE Ti titanium vertebral body replacement and Tiger Shark titanium alloy interbody devices, as well as hydroxyapatite-impregnated PEEK interbodies. Supplemental biologics include synthetic bone graft substitute, demineralized bone matrix and structural and amnion allografts.
The purchase of ChoiceSpine is in line with two orthopaedic trends: one, investment firms purchasing established orthopaedic companies, and two, spine M&A. More than 30 acquisitions have taken place in the spine space from 2017 to today, with the majority of acquirees being companies that we estimate have revenue under $100 million.
Sources: ChoiceSpine, LP; ORTHOWORLD Inc.