Musculoskeletal News Roundup 23-Dec-09
BY EDITOR, DECEMBER 23, 2009
M&A
Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., announced that it has entered into a definitive agreement to acquire Scient'x Groupe SAS. The transaction is structured as an all stock transaction such that 100% of outstanding Scient'x stock will be exchanged pursuant to a fixed ratio for 24 million shares of the Company's common stock. The transaction is currently expected to close by the end of the first quarter of 2010 and is subject to the approval of the Company's shareholders. The combined company will create the third-largest independent spinal company with a global span of product distribution. Scient'x is the largest privately held independent spine company outside of the United States with product distribution in over 50 countries.
Product Introduction and Update
Medtronic launched the Sovereign™ Spinal System for the lumbar spine. The system contains a lens-shaped device made of PEEK with three holes for the placement of titanium screws to stabilize the adjacent vertebral bodies and prevent expulsion of the implant. The system contains a cover plate that is designed to resist screw backout and that must be used in combination with the screws.
MiMedx Group, Inc. announced the launched of the Paradis Vaso Shield™, which was cleared by the FDA back in April 2009 for use as a cover for vessels following anterior vertebral surgeries. The Vaso Shield is a permanent and transparent hydrogel product designed to protect the vessels in subsequent anterior revision surgeries.
Collaborations
Novation entered into an exclusive agreement with OrthoScan to act as its sole supplier of Mini C-Arms. The agreement is effective December 15th for three years with two one year extension options.
Appointments
SpineMatrix Inc. has hired William “Bill” Christy as its chief executive officer. Mr. Christy has 23 years of medical device experience and most recently was president and CEO of AOI Medical.
MiMedx Group, Inc. announced the hiring of Michael W. Carlton as Vice President of Sales and Marketing. Mr. Carlton has an orthopedic and vascular sales and marketing management background.
