XTNT - Xtant Medical acquires Coflex product line from Surgalign for $17M

• Xtant Medical ( NYSE: XTNT ) and Surgalign ( NASDAQ: SRGA ) entered into a definitive agreement and subsequently closed on the transaction wherein Xtant acquired the Coflex and Cofix product lines from Surgalign for a total consideration of $17M.
• "We are thrilled to acquire the Coflex and Cofix product lines, which will help accelerate our top-line growth and position Xtant to achieve critical mass. Coupled with our less invasive Axle interspinous device and Silex SI Fusion product lines, Coflex augments our offering in the fast-growing segments of ASC and outpatient procedures," President and CEO of Xtant Medical commented.
• This acquisition expands the company's footprint by adding new distributors and a significant number of trained surgeons to its network.
• The products are estimated to add ~$14M in annual revenue and attractive margins to enable Xtant to achieve profitability in the near future.
• Surgalign believes that this transaction provides it with non-dilutive capital which will be used to advance its leading platform of artificial intelligence products across the entire continuum of care.

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