Medtronic completes acquisition of Titan Spine
The acquisition of Titan Spine strengthens Medtronic Inc’s position as a leading innovator in procedural solutions for spine surgery.
Dublin: Medtronic plc, recently announced it has completed the acquisition of Titan Spine, a privately-held titanium spine interbody implant and surface technology company.
A definitive acquisition agreement between the two companies was previously announced on May 9, 2019. The acquisition of Titan Spine strengthens Medtronic’s position as a leading innovator in procedural solutions for spine surgery.
Commenting on the same, Jacob Paul, senior vice president and president of the Spine division, which is part of the Restorative Therapies Group at Medtronic said, “With today’s announcement, we bring our two companies together in order to provide best-in-class solutions for spine surgeons’ biggest challenges.”
“The acquisition of Titan Spine builds on an exciting phase of innovation and growth at Medtronic over the last year including the acquisition of Mazor Robotics, the launch of Mazor X Stealth Edition, and the launch of the Infinity Spinal System, cementing our leadership and offering customers the most comprehensive portfolio in the Spine industry, ” Jacob added.
Titan Spine pioneered and leads the category of surface-enhanced titanium interbody implants with its unique nano LOCK platform. Interbody implants are spacers that can be inserted between the vertebrae during spinal fusion surgery to help relieve pressure on nerves and hold the vertebrae in place while fusion occurs. Implant material and shape is thought to play a role in the bone growth process during fusions, and today there is a growing demand from surgeons for titanium interbody devices.
Adding Titan Spine’s product portfolio to Medtronic’s existing spine technologies expands opportunities to bundle inter-bodies, screws, rods, biologics and enabling technologies like imaging and navigation to develop integrated procedural solutions.
Titan Spine joins Medtronic’s Spine division, which is part of the Restorative Therapies Group. The transaction acquisition is expected to be immaterial to Medtronic’s fiscal 2020 adjusted earnings per share and is expected to meet Medtronic’s long-term financial metrics for acquisitions.