SPNE - SeaSpine to acquire 7D Surgical

SeaSpine (SPNE) to acquire all of the issued and outstanding shares of 7D Surgical, a privately-held, Toronto-based company, in a cash and stock deal valued at $110M.In February 2020, the company announced that it had entered into a strategic alliance agreement to distribute 7D Surgical’s flagship navigational system founded on its machine-vision, image-guided surgery platform.7D Surgical shareholders will receive an ~4.29M shares of SeaSpine stock, equivalent to $82.5M based on the volume-weighted price between March 8, 2021 and March 19, 2021, and an aggregate of $27.5M in cash.John Bostjancic, Senior VP, CFO, said: “Once closed, the transaction is expected to contribute to revenue through the addition of the 7D customer base, as well as the opportunity to place additional systems on a capital-efficient basis by allowing hospitals to acquire them over time through the purchase of SeaSpine’s spinal implants and orthobiologics. We believe 7D provides an opportunity to gain access to

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SeaSpine to acquire 7D Surgical