BELGRADE, Mont., Aug. 10, 2023 (GLOBE NEWSWIRE) — Xtant Medical Holdings, Inc. (NYSE American: XTNT), a world medical know-how firm targeted on surgical options for the therapy of spinal problems, as we speak introduced that it accomplished the acquisition of sure property and liabilities associated to the home and worldwide biologics and spinal fixation choices of Surgalign Holdings, Inc. beneath a Chapter Court docket supervised course of for $5 million, plus assumed liabilities, in an all-cash transaction.
“We’re thrilled so as to add to our rising orthobiologics and spinal fusion gadget portfolio, whereas increasing our business footprint with new contracts and distributors with the completion of this acquisition,” stated Sean Browne, President and Chief Govt Officer of Xtant Medical. “Wanting forward, our focus might be integrating this enterprise with our present choices with the purpose of maximizing the total potential of those property.”
2023 Monetary Steering
As beforehand introduced on August 1, 2023, Xtant Medical raised its expectation for full yr 2023 income vary to $75 million to $77 million, up from the Firm’s prior steering of $73 million to $75 million. The Firm expects to supply up to date full yr steering incorporating the acquisition upon the announcement of third quarter 2023 monetary outcomes.
About Xtant Medical Holdings, Inc.
Xtant Medical Holdings, Inc. (www.xtantmedical.com) is a world medical know-how firm targeted on the design, growth, and commercialization of a complete portfolio of orthobiologics and spinal implant programs 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 america, 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 accommodates forward-looking statements inside the that means of the Personal Securities Litigation Reform Act of 1995. Ahead-looking statements embody statements which can be predictive in nature, that rely on or check with future occasions or circumstances, or that embody phrases equivalent to “intends,” “expects,” “anticipates,” “plans,” “believes,” “estimates,” “proceed,” “future,” “will,” “potential,” “going ahead,” related expressions or the unfavourable thereof, and using future dates. Ahead-looking statements on this launch embody the expansion of the Firm’s orthobiologics and spinal fusion gadget portfolio, enlargement of the Firm’s business footprint, integration of the acquired enterprise with the Firm’s present choices, and the Firm’s monetary steering for 2023. The Firm cautions that its forward-looking statements by their nature contain dangers and uncertainties, and precise outcomes could differ materially relying on quite a lot of necessary elements, together with, amongst others: the failure by the Firm to realize anticipated income and any value or income synergies anticipated from the Surgalign transaction or delays within the realization thereof; delays and challenges in integrating the companies after the transaction is accomplished; enterprise disruption through the pendency of and following the transaction; lack of key personnel; unanticipated liabilities or exposures for which the Firm won’t been indemnified or could not get better; the Firm’s future working outcomes and monetary efficiency; its capacity to extend or keep income; dangers related to its latest acquisition of the Coflex® product line; potential future impairment prices to long-lived property and goodwill and write-downs of extra stock if revenues proceed to lower; the power to stay aggressive; the power to innovate, develop and introduce new merchandise; the power to interact and retain new and present impartial distributors and brokers and certified personnel and the Firm’s dependence on key impartial 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 once they have an effect on key markets; the Firm’s capacity to implement efficiently its future development initiatives and dangers related therewith; the impact of inflation, elevated rates of interest and different recessionary elements 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 power to acquire and keep regulatory approvals and adjust to authorities rules; the impact of product legal responsibility claims and different litigation to which the Firm could also be topic; the impact of product remembers and defects; the power to acquire and defend Firm mental property and proprietary rights and function with out infringing the rights of others; the power to service Firm debt, adjust to its debt covenants and entry further indebtedness; the power to acquire further financing on favorable phrases or in any respect; and different elements. Extra threat elements are contained within the Firm’s Annual Report on Type 10-Okay for the yr 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 Type 10-Q for the quarterly interval ended June 30, 2023 filed with the SEC on August 1, 2023. Traders 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 mirror occasions or circumstances after the date hereof or to mirror the prevalence of unanticipated occasions, besides as required by legislation. All forward-looking statements attributable to the Firm or individuals performing on its behalf are expressly certified of their entirety by this cautionary assertion.
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