RTI Surgical® Completes Acquisition of Paradigm Spine
March 08 2019 - 4:05PM
Company Integrates coflex® Interlaminar
Stabilization® Device into Growing Spine Portfolio
RTI Surgical Holdings, Inc. (Nasdaq: RTIX), a global surgical
implant company, today announced it has completed the acquisition
of Paradigm Spine, LLC, a leader in motion preservation and
non-fusion spinal implant technology. Paradigm Spine’s primary
product is the coflex® Interlaminar Stabilization® device.
“The acquisition of Paradigm aligns with RTI’s
growth strategy focused on investing in differentiated products and
building scale within our spine business,” said Camille Farhat,
President and CEO, RTI Surgical. “It marks the second completed
acquisition for RTI’s spine portfolio since the second half of 2017
when we initiated a strategic transformation to reduce complexity,
drive operational excellence and accelerate growth for RTI.”
Coflex is a differentiated, minimally invasive
motion preserving stabilization implant that is FDA PMA-approved
for the treatment of moderate to severe lumbar spinal stenosis
(LSS) in conjunction with decompression. LSS is a debilitating and
degenerative disease that impacts approximately 1.6 million
patients annually in the United States. Coflex is a significant
addition to RTI’s existing spine portfolio, which consists of
high-quality hardware, interbody, and biologic options.
Mr. Farhat added: “The addition of coflex allows
RTI to provide surgeons who treat patients with moderate to severe
LSS a PMA-approved device supported by more than 12 years of
clinical data and with expanding coverage from payors. With RTI’s
demand generation expertise, scale and infrastructure and the
experience of key members of the legacy Paradigm Spine team joining
RTI, we are well-positioned to grow coflex as the treatment of
choice and standard of care for appropriate LSS patients.”
Piper Jaffray & Co. served as financial
advisors to RTI, and Sidley Austin LLP and Holland & Knight LLP
served as legal counsel on the transaction and financing,
respectively. Dorsey & Whitney LLP served as legal counsel to
Paradigm Spine.
About RTI Surgical Holdings, Inc.RTI
Surgical is a leading global surgical implant company
providing surgeons with safe biologic, metal and synthetic
implants. Committed to delivering a higher standard, RTI’s implants
are used in sports medicine, general surgery, spine, orthopedic and
trauma procedures and are distributed in nearly 50 countries. RTI
has four manufacturing facilities throughout the U.S. and Europe.
RTI is accredited in the U.S. by the American Association of Tissue
Banks and is a member of AdvaMed. For more information, please
visit www.rtix.com. Connect with us
on LinkedIn and Twitter.
Forward-Looking Statements
This communication contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on management’s current
expectations, estimates and projections about our industry, our
management's beliefs and certain assumptions made by our
management. Words such as "anticipates," "expects," "intends,"
"plans," "believes," "seeks," "estimates," variations of such words
and similar expressions are intended to identify such
forward-looking statements. In addition, except for historical
information, any statements made in this communication about
anticipated financial results, growth rates, new product
introductions, future operational improvements, gaining market
share and results or regulatory actions or approvals or changes to
agreements with distributors also are forward-looking statements.
These statements are not guarantees of future performance and are
subject to risks and uncertainties, including the risks described
in public filings with the U.S. Securities and Exchange Commission
(SEC). Our actual results may differ materially from the
anticipated results reflected in these forward-looking statements.
Copies of the company's SEC filings may be obtained by contacting
the company or the SEC or by visiting RTI's website at www.rtix.com
or the SEC's website at www.sec.gov.
MEDIA AND INVESTOR CONTACT:Molly
Poarchmpoarch@rtix.com+1 224 287 2661
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