Expands Xtant’s Manufacturing Capabilities and Capability to Drive Development
BELGRADE, Mont., Oct. 23, 2023 (GLOBE NEWSWIRE) — Xtant Medical Holdings, Inc. (NYSE American: XTNT), a world medical know-how firm centered on surgical options for the therapy of spinal issues, at this time introduced that it has acquired the nanOss manufacturing operations from RTI Surgical, Inc., a number one CDMO in regenerative medication.
Below the phrases of the acquisition settlement, Xtant acquired sure belongings, together with tools and stock, utilized in RTI’s artificial bone graft enterprise, and assumed from RTI the lease for the nanOss manufacturing facility situated in Greenville, NC. The acquisition worth for the belongings was $2 million in money plus contingent funds primarily based on future gross sales of subsequent era nanOss merchandise. Xtant beforehand acquired nanOss distribution rights and nanOss mental property with the acquisition of Surgalign’s belongings associated to its biologics and spinal fixation enterprise in August 2023.
“nanOss is a vital a part of our whole orthobiologics providing, and having full management over this product line allows us to start the method of reviving and rising it,” stated Sean Browne, Chief Govt Officer of Xtant Medical. “This deal satisfies every factor of our acquisition standards and positions us to enhance our manufacturing capabilities, capability and money flows.”
About Xtant Medical Holdings, Inc.
Xtant Medical Holdings, Inc. (www.xtantmedical.com) is a world medical know-how firm centered on the design, growth, and commercialization of a complete portfolio of orthobiologics and spinal implant techniques to facilitate spinal fusion in complicated spine, deformity and degenerative procedures. Xtant individuals are devoted and gifted, working with the best integrity to serve our clients.
The symbols ™ and ® denote emblems and registered emblems of Xtant Medical Holdings, Inc. or its associates, registered as indicated in the USA, and in different nations. All different emblems and commerce names referred to on this launch are the property of their respective homeowners.
Cautionary Assertion Relating to Ahead-Wanting Statements
This press launch comprises forward-looking statements throughout the which means of the Non-public Securities Litigation Reform Act of 1995. Ahead-looking statements embrace statements which can be predictive in nature, that rely upon or check with future occasions or situations, or that embrace phrases corresponding to “intends,” ‘‘expects,’’ ‘‘anticipates,’’ ‘‘plans,’’ ‘‘believes,’’ ‘‘estimates,’’ “proceed,” “future,” ‘‘will,’’ “potential,” related expressions or the damaging thereof, and using future dates. Ahead-looking statements on this launch embrace the Firm’s expectations relating to the revival and development of the nanOss product line and the advance of its manufacturing capabilities, capability and money flows. The Firm cautions that its forward-looking statements by their nature contain dangers and uncertainties, and precise outcomes could differ materially relying on a wide range of vital components, together with, amongst others: the failure by the Firm to attain anticipated income and any price or income synergies anticipated from the RTI transaction or delays within the realization thereof; delays and challenges in integrating the nanOss product line and manufacturing operations with the Firm’s enterprise; the Firm’s future working outcomes and monetary efficiency; its skill to extend or keep income; dangers related to the acquisition of the nanOss manufacturing operations and prior acquisitions; potential future impairment costs to long-lived belongings and goodwill and write-downs of extra stock if revenues lower; the flexibility to stay aggressive; the flexibility to innovate, develop and introduce new merchandise; the flexibility to interact and retain new and present unbiased distributors and brokers and certified personnel and the Firm’s dependence on key unbiased brokers for a good portion of its income; the impact of COVID-19, labor and hospital staffing shortages on the Firm’s enterprise, working outcomes and monetary situation, particularly after they have an effect on key markets; the Firm’s skill to implement efficiently its future development initiatives and dangers related therewith; the impact of inflation, elevated rates of interest and different recessionary components and provide chain disruptions; the impact of product gross sales combine modifications on the Firm’s monetary outcomes; authorities and third-party protection and reimbursement for Firm merchandise; the flexibility to acquire and keep regulatory approvals and adjust to authorities laws; the impact of product legal responsibility claims and different litigation to which the Firm could also be topic; the impact of product recollects and defects; the flexibility to acquire and shield Firm mental property and proprietary rights and function with out infringing the rights of others; the flexibility to service Firm debt, adjust to its debt covenants and entry further indebtedness; the flexibility to acquire further financing on favorable phrases or in any respect; and different components. Further danger components are contained within the Firm’s Annual Report on Kind 10-Okay for the 12 months ended December 31, 2022 filed with the SEC on March 7, 2023 and subsequent SEC filings by the Firm, together with its Quarterly Report on Kind 10-Q for the quarterly interval ended June 30, 2023 filed with the SEC on August 1, 2023. Buyers are inspired to learn the Firm’s filings with the SEC, obtainable at www.sec.gov, for a dialogue of those and different dangers and uncertainties. The Firm undertakes no obligation to launch publicly any revisions to any forward-looking statements to replicate occasions or circumstances after the date hereof or to replicate the incidence of unanticipated occasions, besides as required by regulation. All forward-looking statements attributable to the Firm or individuals appearing on its behalf are expressly certified of their entirety by this cautionary assertion.
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