14 Jul Spineart reaches definitive agreement to acquire Meditech Spine LLC
Spineart, a global spine player with headquarters in Geneva, Switzerland and US operations in Laguna Hills, California, has agreed to acquire 100% of Atlanta-based Meditech Spine LLC.
Spineart has been a distributor of Meditech Spine’s products in the US since 2019. The companies anticipate significant synergies between the two organizations. As part of the transaction, Meditech Spine’s co-founder and chief executive officer, Eric Flickinger, will join Spineart’s senior management team in the US. Meditech manufactures and markets a portfolio of sterile-packed, barcoded CUREÒ plates and TALOSÒ PEEK-HA cages in the US. Spineart manufactures and markets a comprehensive portfolio of sterile-packed, barcoded spinal posterior fixations, 3Dprinted Ti-LIFEÒ cages, artificial disc prosthesis and biologics in 50 countries. The transaction is expected to close in July 2020.
“We are thrilled about the portfolio synergies this acquisition will generate. We look forward to welcoming Eric to our team and integrating Meditech’s products within our US and international distribution network” say Stephane Mugnier and Jerome Levieux, co-founders and co-CEOs of Spineart.
“We have been impressed with Spineart’s creative solutions for the spinal implant market leading to proven products that enhance patient outcomes and create customer loyalty. At Meditech Spine, our goal has always been to work with leaders in the industry and we are excited about continuing our partnership under the global Spineart leadership and brand” says Eric Flickinger, co-founder and CEO of Meditech Spine.
“This is Spineart’s first US acquisition. We are excited to further our work with Eric and his team and continue supporting spine surgeons with safe, innovative and intuitive systems for the benefit of their patients. The combination of our two companies will enable us to expand our product offering globally and increase our geographical footprint in the US” says Jerome Trividic, Chief Strategy Officer and President US of Spineart.
FOS ADVISORS, LLC acted as the financial and strategic M&A Advisor to Meditech Spine, LLC. Andrew Cataldo, The CATALDO LAW FIRM acted as M&A Legal Counsel to Meditech Spine, LLC.
ROPERS MAJESKI PC acted as M&A Legal Counsel to Spineart.
SOURCE: Spineart, 10th July 2020