- Surgalign Holdings, Inc. (SRGA) completed its metamorphosis into a pure-play spine company (and cleaned up its balance sheet) with the sale of its OEM tissue business in July 2020.
- However, a continued cash bleed owed to the pandemic has necessitated two highly dilutive secondaries in 2021 and another one – with its lowered outlook – is likely before year-end.
- With its digital surgery platform set to launch (subject to FDA allowance) in late 2021 and significant recent insider buying, this small-cap merited a deep dive.
- A full investment analysis follows below.
For further details see:
Sizing Up Surgalign