Dec. 2 at 2:04 PM
Xtant Medical Holdings (NYSE-American:
$XTNT) announced the completion of its previously announced sale of certain non-core Coflex® spinal implant assets and all OUS entities of Paradigm Spine GmbH to Companion Spine, LLC, and its affiliates, for approximately
$19.2 million.
Xtant Medical is a B2i Digital Featured Company. View the comprehensive profile at https://b2idigital.com/xtant-medical.
The announcement highlights a strategic shift toward Xtant’s core biologics business, with
$11.0 million in immediate cash and
$8.2 million in short-term seller financing through an unsecured promissory note maturing January 15, 2026, subject to purchase price adjustments, to reduce debt and strengthen the company’s financial position.
Sean Browne, President and CEO of Xtant Medical, commented: “The sale of these businesses to Companion Spine represents a significant step forward for Xtant as we enhance our focus on our core biologics business, driving innovation for surgeons and patients, and delivering sustained improvements in our financial performance. Importantly, we expect that the net proceeds from this transaction, together with our anticipated cash flows generated from operations, will enable us to continue operating without the need for additional external capital. We are immensely proud to have reached this inflection point.”
Read the complete release: https://investor.xtantmedical.com/news-releases/news-release-details/xtant-medical-completes-sale-its-coflexr-assets-and-paradigm-ous
Xtant Medical is led by Chief Executive Officer Sean Browne, Chief Financial Officer Scott Neils, and Chief Operating Officer Mark Schallenberger, who bring extensive expertise in medical device commercialization, corporate finance, and orthobiologic innovation.
For more information, visit https://www.xtantmedical.com. Investor inquiries: Kevin Gardner at LifeSci Advisors,
[email protected].
Disclosure: David Shapiro, CEO of B2i Digital, personally purchased in the open market and currently owns shares of unrestricted XTNT stock, in line with B2i Digital’s practice of investing alongside its Featured Companies. This post is not intended to solicit the sale of XTNT or any security, and it is not intended to offer any opinion on XTNT as an investment. Conduct your own research and consult with your own professional advisors prior to making any investment decisions. See the complete Disclosure in the Risks and Disclosures section of https://b2idigital.com/disclaimer.