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Highridge Medical — one of the newest names in the spine market — is a combination of several legacy companies, and as it builds for the future, its leadership seeks to maintain the culture of the pioneering and nimble brands that came before it.
In April 2024, an affiliate of the investment firm H.I.G. Capital completed its acquisition of ZimVie’s spine division. The private equity firm took the company private, renamed it Highridge Medical and began building a leadership team made of spine industry veterans who bring experience from innovative companies, like Cerapedics, K2M, Lanx and LDR, and behemoths in the space, like Medtronic and Zimmer Biomet.
Highridge seeks to be known as the largest startup in spine. As ZimVie, the spine division had implant sales of $316 million and total sales of $490 million in 2023. Leadership said the company is profitable and growing at an above-market rate.
We spoke with the CEO of Spine, Rebecca Whitney, and the Executive Chairman of the Board, Eric Major, about what we can expect from the new company.
What are the short-term priorities for Highridge Medical?
Ms. Whitney: The priority is rebranding the company. It’s not just a name change. We’re truly starting a new company, building a strategy, leadership team and board of directors. We’ve hired a new commercial team that is experienced and passionate about the space. There are key stakeholders — general employees, sales force and surgeon customers — to whom we’re seeking to communicate a clear and compelling message, detailing what we’re doing and how we’re going to do it. It’s been a lot of fun and hard work.
Mr. Major: We’re getting our arms around the idea that we’re the largest privately held spine company, really the largest startup in spine. We bring technologies from Biomet, Zimmer, LDR and Lanx. Since closing the acquisition, Rebecca has doubled the R&D budget and we’ve put together a board that includes experience from K2M, Stryker and Medtronic. We’re building a spine-focused culture. That might not sound important, but it makes a big difference when everyone in the group understands that we’re all spine, all day.
What upcoming products or technologies in your portfolio excite you the most?
Ms. Whitney: Vital, our pedicle screw system, is the best-kept secret in spine. ZimVie had strategic reasons for focusing on The Tether and Mobi-C, but our Vital platform is going to be used nine to 10 times more than The Tether.
Our goal is to own the verticals we play in and build product portfolios, whether it’s non-fusion solutions for pediatric scoliosis, complex deformity solutions for advanced adult scoliosis, posterior cervical systems or corpectomy cages. We have a great foundation of products in multiple verticals, and we’re going to be innovating to make them even better and, equally importantly, train surgeons on them and promote them to surgeons.
You have a navigation partnership with Brainlab for your Vital and Virage lines. How do you foresee integrating enabling technology into your portfolio in the future?
Mr. Major: Enabling tech is critical in spine. Whether it’s imaging, navigation, robotics or AR/VR, orthopedic and neuro surgeons need technology to accurately place implants and gather data. We have the navigation relationship with Brainlab and an AR/VR distribution agreement with Augmedics.
We have tuck-ins that demonstrate that we’re able to fill blind spots in our portfolio, and we plan to make big announcements in the future. Enabling tech is critical to our strategy and a big part of what the organization needs.
Ms. Whitney: One of the nice things about not solidifying our strategy yet is that there are many innovative companies looking for a partner to scale. We’re engaged in conversations around different solutions and intentionally being very selective because we want to bring the right enabling technology to the right procedure rather than checking boxes. We have a lot of options.
What can you do as a privately held company that you couldn’t do as a public company?
Ms. Whitney: It’s allowed us to focus and invest. One, we’re a pure play spine company now. Two, we have breathing room to invest in an outcome that is longer than 90 days. We can double our R&D budget without having to explain to analysts and investors why our profit took a hit. If we choose to make an investment that we know is going to pay off in the long run, but may not show that at surface value, we can do it.
Mr. Major: We can be nimble and fast, and that allows us to address what’s most important, which is innovating and responding to the customer. We want to be the place where everybody in spine — doctors, agents, reps — wants to come because we’re moving the market. That’s starting to come together with the team that Rebecca is putting together and the interest we’re getting from surgeons and industry.
What will we be saying about Highridge Medical in three to five years?
Mr. Whitney: That we’re the fastest growing, most innovative company and most surgeon-focused company in spine. That’s high level. Of course, to accomplish that, we want to be a great place to work for our team members. We need to drive innovation, launch new products at a steady cadence, run a profitable and responsible business and give back to the community. We also have the responsibility to give back by spinning up our philanthropy and doing mission work in a more meaningful way.
Highridge Medical — one of the newest names in the spine market — is a combination of several legacy companies, and as it builds for the future, its leadership seeks to maintain the culture of the pioneering and nimble brands that came before it.
In April 2024, an affiliate of the investment firm H.I.G. Capital completed its acquisition...
Highridge Medical — one of the newest names in the spine market — is a combination of several legacy companies, and as it builds for the future, its leadership seeks to maintain the culture of the pioneering and nimble brands that came before it.
In April 2024, an affiliate of the investment firm H.I.G. Capital completed its acquisition of ZimVie’s spine division. The private equity firm took the company private, renamed it Highridge Medical and began building a leadership team made of spine industry veterans who bring experience from innovative companies, like Cerapedics, K2M, Lanx and LDR, and behemoths in the space, like Medtronic and Zimmer Biomet.
Highridge seeks to be known as the largest startup in spine. As ZimVie, the spine division had implant sales of $316 million and total sales of $490 million in 2023. Leadership said the company is profitable and growing at an above-market rate.
We spoke with the CEO of Spine, Rebecca Whitney, and the Executive Chairman of the Board, Eric Major, about what we can expect from the new company.
What are the short-term priorities for Highridge Medical?
Ms. Whitney: The priority is rebranding the company. It’s not just a name change. We’re truly starting a new company, building a strategy, leadership team and board of directors. We’ve hired a new commercial team that is experienced and passionate about the space. There are key stakeholders — general employees, sales force and surgeon customers — to whom we’re seeking to communicate a clear and compelling message, detailing what we’re doing and how we’re going to do it. It’s been a lot of fun and hard work.
Mr. Major: We’re getting our arms around the idea that we’re the largest privately held spine company, really the largest startup in spine. We bring technologies from Biomet, Zimmer, LDR and Lanx. Since closing the acquisition, Rebecca has doubled the R&D budget and we’ve put together a board that includes experience from K2M, Stryker and Medtronic. We’re building a spine-focused culture. That might not sound important, but it makes a big difference when everyone in the group understands that we’re all spine, all day.
What upcoming products or technologies in your portfolio excite you the most?
Ms. Whitney: Vital, our pedicle screw system, is the best-kept secret in spine. ZimVie had strategic reasons for focusing on The Tether and Mobi-C, but our Vital platform is going to be used nine to 10 times more than The Tether.
Our goal is to own the verticals we play in and build product portfolios, whether it’s non-fusion solutions for pediatric scoliosis, complex deformity solutions for advanced adult scoliosis, posterior cervical systems or corpectomy cages. We have a great foundation of products in multiple verticals, and we’re going to be innovating to make them even better and, equally importantly, train surgeons on them and promote them to surgeons.
You have a navigation partnership with Brainlab for your Vital and Virage lines. How do you foresee integrating enabling technology into your portfolio in the future?
Mr. Major: Enabling tech is critical in spine. Whether it’s imaging, navigation, robotics or AR/VR, orthopedic and neuro surgeons need technology to accurately place implants and gather data. We have the navigation relationship with Brainlab and an AR/VR distribution agreement with Augmedics.
We have tuck-ins that demonstrate that we’re able to fill blind spots in our portfolio, and we plan to make big announcements in the future. Enabling tech is critical to our strategy and a big part of what the organization needs.
Ms. Whitney: One of the nice things about not solidifying our strategy yet is that there are many innovative companies looking for a partner to scale. We’re engaged in conversations around different solutions and intentionally being very selective because we want to bring the right enabling technology to the right procedure rather than checking boxes. We have a lot of options.
What can you do as a privately held company that you couldn’t do as a public company?
Ms. Whitney: It’s allowed us to focus and invest. One, we’re a pure play spine company now. Two, we have breathing room to invest in an outcome that is longer than 90 days. We can double our R&D budget without having to explain to analysts and investors why our profit took a hit. If we choose to make an investment that we know is going to pay off in the long run, but may not show that at surface value, we can do it.
Mr. Major: We can be nimble and fast, and that allows us to address what’s most important, which is innovating and responding to the customer. We want to be the place where everybody in spine — doctors, agents, reps — wants to come because we’re moving the market. That’s starting to come together with the team that Rebecca is putting together and the interest we’re getting from surgeons and industry.
What will we be saying about Highridge Medical in three to five years?
Mr. Whitney: That we’re the fastest growing, most innovative company and most surgeon-focused company in spine. That’s high level. Of course, to accomplish that, we want to be a great place to work for our team members. We need to drive innovation, launch new products at a steady cadence, run a profitable and responsible business and give back to the community. We also have the responsibility to give back by spinning up our philanthropy and doing mission work in a more meaningful way.
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Carolyn LaWell is ORTHOWORLD's Chief Content Officer. She joined ORTHOWORLD in 2012 to oversee its editorial and industry education. She previously served in editor roles at B2B magazines and newspapers.
