Surgalign entered into a global settlement agreement with Resolve Surgical Technologies and RTI Surgical relating to the sale of its OEM business in 2020 and the continued relationship the company has had with RTI since. As part of the settlement, the parties have amended various agreements, including the distribution agreements for spinal implants and biologics.
All parties have settled the litigation and released each other from potential claims. The amendments released Surgalign from the obligation to cure a purchase shortfall for the current year, and reduced the minimum annual purchase requirements. In addition, the sole-source relationship has been extended for an additional two years with updated supply chain provisions reflecting the separation of Surgalign and Resolve/RTI.
Surgalign and Resolve/RTI separated in 2020 with the sale of the OEM business. Resolve/RTI continues to provide products distributed by Surgalign in the U.S. and in approximately 50 countries worldwide.
Surgalign entered into a global settlement agreement with Resolve Surgical Technologies and RTI Surgical relating to the sale of its OEM business in 2020 and the continued relationship the company has had with RTI since. As part of the settlement, the parties have amended various agreements, including the distribution agreements for spinal...
Surgalign entered into a global settlement agreement with Resolve Surgical Technologies and RTI Surgical relating to the sale of its OEM business in 2020 and the continued relationship the company has had with RTI since. As part of the settlement, the parties have amended various agreements, including the distribution agreements for spinal implants and biologics.
All parties have settled the litigation and released each other from potential claims. The amendments released Surgalign from the obligation to cure a purchase shortfall for the current year, and reduced the minimum annual purchase requirements. In addition, the sole-source relationship has been extended for an additional two years with updated supply chain provisions reflecting the separation of Surgalign and Resolve/RTI.
Surgalign and Resolve/RTI separated in 2020 with the sale of the OEM business. Resolve/RTI continues to provide products distributed by Surgalign in the U.S. and in approximately 50 countries worldwide.
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