Acquisition to Improve Xtant’s Rising Spinal Fusion Units Portfolio
BELGRADE, Mont., July 28, 2023 (GLOBE NEWSWIRE) — Xtant Medical Holdings, Inc. (NYSE American: XTNT), a worldwide medical know-how firm centered on surgical options for the therapy of spinal problems, right now introduced that it was the profitable bidder for sure property and liabilities associated to the home and worldwide biologics and spinal fixation choices of Surgalign Holdings, Inc. Xtant’s preliminary bid, as set forth within the Asset Buy Settlement, dated June 18, 2023, between Xtant and Surgalign, was the successful bid.
“We’re happy so as to add these enticing property that we anticipate will contribute to our progress,” stated Sean Browne, President and CEO of Xtant Medical. “Mixed with the Coflex acquisition that we accomplished earlier this 12 months, we’re executing on our key progress drivers whereas scaling our enterprise.”
Pursuant to the Asset Buy Settlement, and pending the issuance of a Sale Order by the USA Chapter Court docket for the Southern District of Texas, Houston Division (Chapter Court docket), closing of the transaction is predicted to happen after the Chapter Court docket sale listening to, scheduled for August 8, 2023, however in no occasion later than September 1, 2023. For added data on the Asset Buy Settlement, please consult with Xtant’s Present Experiences on Type 8-Okay filed with the Securities and Change Fee (SEC) on June 20, 2023 and July 11, 2023. For added data on Xtant’s standing because the successful bidder, please consult with Xtant’s Present Report on Type 8-Okay to be filed with the SEC on or round July 28, 2023.
Xtant will launch its monetary outcomes for the second quarter ended June 30, 2023, earlier than the open of the monetary markets on Tuesday, August 1, 2023. The Firm will host a convention name and webcast on the identical day at 9:00 AM ET to evaluate outcomes.
About Xtant Medical Holdings, Inc.
Xtant Medical Holdings, Inc. (www.xtantmedical.com) is a worldwide medical know-how firm centered on the design, improvement, 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 prospects.
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 house owners.
Cautionary Assertion Concerning Ahead-Wanting Statements
This press launch incorporates forward-looking statements throughout the which means of the Personal Securities Litigation Reform Act of 1995. Ahead-looking statements embrace statements which might be predictive in nature, that rely on or consult with future occasions or circumstances, or that embrace phrases comparable to “intends,” ”expects,” “anticipates,” “plans,” “believes,” “estimates,” “proceed,” “future,” “will,” “potential,” “going ahead,” comparable expressions or the detrimental thereof, and the usage of future dates. Ahead-looking statements on this launch embrace the outcomes of the Chapter sale order, the timing of closing of the acquisition of Surgalign property and whether or not the acquired property will contribute to the Firm’s progress. 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 components, together with, amongst others: dangers and uncertainties surrounding the Surgalign transaction, together with with out limitation, delays in finishing the transaction and the chance that the transaction is probably not accomplished in any respect; the failure by the Firm to attain anticipated income and any price or income synergies anticipated from the 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 is not going to been indemnified or could not get better; the Firm’s future working outcomes and monetary efficiency; its means to extend or preserve income; dangers related to its current acquisition of the Coflex® product line; potential future impairment costs to long-lived property and goodwill and write-downs of extra stock if revenues proceed to lower; the flexibility to stay aggressive; the flexibility to innovate, develop and introduce new merchandise; the flexibility 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 means to implement efficiently its future progress 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 adjustments on the Firm’s monetary outcomes; authorities and third-party protection and reimbursement for Firm merchandise; the flexibility to acquire and preserve 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 remembers 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 extra indebtedness; the flexibility to acquire extra financing on favorable phrases or in any respect; and different components. Further danger components are contained within the Firm’s Annual Report on Type 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 Type 10-Q for the quarterly interval ended March 31, 2023 filed with the SEC on Could 4, 2023. Buyers are inspired to learn the Firm’s filings with the SEC, accessible 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 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.
Investor Relations Contact
David Carey
Lazar FINN
Ph: 212-867-1762
E mail: david.carey@finnpartners.com
Discussion about this post