Over the last 10 years, we’ve tracked 329 orthopedic M&A transactions. Of those, 91 (28%) have included spine assets. The next most active segment during that span is trauma with 53 transactions, or 16% of all M&A. Spine activity slowed since the pandemic, however.
From 2016 to 2020, spine accounted for 32% of all transactions. From 2021 through the first eight months of 2025, the segment accounted for 24% of transactions.
Overall transaction activity has declined in recent years but, as we covered previously, M&A interest has also shifted to digital and orthobiologic assets. So far in 2025, however, spine M&A activity has rebounded slightly. Its seven transactions account for 30% of all activity.
We’ve seen four products or portfolios change hands with Medtronic, VB Spine, Highridge Medical and Companion Spine acting as buyers. We’ve also had three outright acquisitions, with two from Demetra Spine and one from Globus Medical.
Smaller companies are looking for niche subsegments to leverage, while larger spine players are seeking novel technologies to differentiate their offering in a highly competitive market.
Spine M&A as Percentage of All Transactions
Over the last 10 years, we've tracked 329 orthopedic M&A transactions. Of those, 91 (28%) have included spine assets. The next most active segment during that span is trauma with 53 transactions, or 16% of all M&A. Spine activity slowed since the pandemic, however.
From 2016 to 2020,...
Spine M&A as Percentage of All Transactions
Over the last 10 years, we’ve tracked 329 orthopedic M&A transactions. Of those, 91 (28%) have included spine assets. The next most active segment during that span is trauma with 53 transactions, or 16% of all M&A. Spine activity slowed since the pandemic, however.
From 2016 to 2020, spine accounted for 32% of all transactions. From 2021 through the first eight months of 2025, the segment accounted for 24% of transactions.
Overall transaction activity has declined in recent years but, as we covered previously, M&A interest has also shifted to digital and orthobiologic assets. So far in 2025, however, spine M&A activity has rebounded slightly. Its seven transactions account for 30% of all activity.
We’ve seen four products or portfolios change hands with Medtronic, VB Spine, Highridge Medical and Companion Spine acting as buyers. We’ve also had three outright acquisitions, with two from Demetra Spine and one from Globus Medical.
Smaller companies are looking for niche subsegments to leverage, while larger spine players are seeking novel technologies to differentiate their offering in a highly competitive market.
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Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
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