Xtant Medical Archives - Medical Design Sourcing

Augmedics to acquire digital health assets from Surgalign auction

Augmedics announced today that it successfully bid for the digital health assets of Surgalign and Holo Surgical following an auction.

Surgalign conducted the court-supervised marketing and sale process following its Chapter 11 bankruptcy filing in June. It conducted the auction process in accordance with bidding procedures approved by the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division.

According to Surgalign, Augmedics bid for the digital health assets with a cash purchase price of $900,000. It also includes the assumption of certain liabilities.

The Chicago-based augmented reality-based surgical navigation technology developer says the purchase strengthens its portfolio with IP and other digital health assets. Augmedics expects the sale to close pending Bankruptcy Court approval at a hearing set for Aug. 8.

This news follows last month’s announcement of an $82.5 million fundraising round for Augmedics.

“We…

Xtant Medical closes $15M private placement

Xtant Medical (NYSE:XTNT) announced today that it closed its previously announced $15 million private placement.

The company announced on Monday that it agreed with accredited investors to issue an aggregate of 20 million shares of common stock. Priced at 75¢ per share, the private placement totals gross proceeds of $15 million. After deducting fees and other estimated offering expenses, Xtant recorded net proceeds of approximately $14.2 million.

The spinal disorder treatment developer plans to use proceeds for working capital and other general corporate purposes. Craig-Hallum Capital Group served as the sole placement agent for the private placement.

Xtant Medical develops a range of orthobiologics and spinal implant systems. Its portfolio features offerings that facilitate spinal fusion in complex spine, deformity and degenerative procedures.

In March, Xtant acquired the Coflex and Cofix product lines from Surgalign for $17 milli…

Xtant Medical announces $15M private placement

Xtant Medical (NYSE:XTNT) announced today that it agreed to sell shares of its common stock in a private placement worth $15 million.

Belgrade, Montana-based Xtant agreed with accredited investors to issue an aggregate of 20 million shares of common stock. Priced at 75¢ per share, the private placement totals gross proceeds of $15 million.

The spinal disorder treatment developer plans to use proceeds for working capital and other general corporate purposes. Xtant expects to close the placement on or about July 6, subject to customary closing conditions. Craig-Hallum Capital Group serves as the sole placement agent for the private placement.

Xtant Medical develops a portfolio of orthobiologics and spinal implant systems. Its offerings facilitate spinal fusion in complex spine, deformity and degenerative procedures.

In March, Xtant acquired two product lines — Coflex and Cofix — from Surgalign for $17 million. Surgalign designed Coflex as an interla…

Surgalign sells Coflex, Cofix product lines for $17M

The Coflex device. [Image from Surgalign]Surgalign (Nasdaq:SRGA) announced an agreement for Xtant Medical (NYSE:XTNT) to acquire two of its product lines for $17 million.

On Feb. 28, the two companies entered into a definitive agreement whereby Xtant acquired the Coflex and Cofix product lines from Surgalign. They subsequently closed on the deal for a total consideration of $17 million.

Surgalign designed Coflex as an interlaminar stabilization device used after an open decompression in various settings. It offers a non-fusion treatment option for lumbar spinal stenosis (LSS) patients. Coflex, the only implant with FDA premarket approval for treating LSS, is a supplemental fixation device.

More than 200,000 patients over 60 countries received Coflex implants, which also estalblished ambulatory surgical center reimbursement.

Cofix, a minimally invasive system, offers usability across all levels of the lumbar spine, Surgalign said in a news release. Read more