Spineart agreed to acquire Meditech Spine. Spineart is headquartered in Switzerland, with U.S. operations in California. The purchase of Atlanta-based Meditech Spine is the company's first U.S. acquisition, and the transaction is expected to close in July 2020.
Spineart has distributed Meditech Spine’s products in the U.S. since 2019. Meditech markets a portfolio of sterile-packed CURE plates and TALOS PEEK-HA cages in the U.S., and recently received FDA 510(k) clearance to market CURE Opel-L (S), a new lumbar plate option that expands the previously-cleared CURE LP system and complements the Talos-A (HA) Interbody device.
Spineart manufactures sterile-packed spinal posterior fixation systems, 3D-printed Ti-LIFE cages, artificial disc prostheses and biologics in 50 countries.
Jerome Trividic, Chief Strategy Officer and President U.S. of Spineart, said, “The combination of our two companies will enable us to expand our product offering globally and increase our geographical footprint in the U.S.”
In mid-1Q20, Spineart announced the acquisition of assets from Eden Spine Europe, complementing Spineart’s portfolio with a cervico-thoracolumbar vertebral body replacement system and an antero-lateral plate.
In late 2Q20, Spineart secured a CHF 50 million investment (~USD $53 million) from EGS Beteiligungen, which will support strategic clinical studies, organic growth in key markets, acquisition opportunities and continued product development and launch.
Spineart posted 2019 revenue of €66 million (~$75 million), with over 40% growth in the U.S.