French-American spine pain-management surgery specialist Companion Spine has agreed to acquire Paradigm Spine from Xtant Medical Holdings.
The acquisition encompasses Paradigm’s subsidiaries and all spine-related business, including the Coflex Interlaminar Stabilisation device and CoFix Posterior MIS Fusion System implants.
Based in Wurmlingen, Germany, Paradigm Spine designs, develops, markets, and distributes a comprehensive range of spine implant solutions.
The Coflex and CoFix systems have been commercially available in the US for 12 years and 20 years, respectively, and are used globally, across 60 countries.
To date, more than 280,000 Coflex devices and 130,000 CoFix systems have been implanted worldwide.
Xtant Medical president and CEO Sean Browne said: “This transaction is a significant step for us as we focus on our core business – the development of higher-margin, best-in-class orthobiologics – while also strengthening our balance sheet and streamlining our operations.
“At the same time, these franchises will be in great hands given the Viscogliosi Brothers’ proven track record of successful commercial execution in the neuro-musculoskeletal space.
“We believe they, along with Companion Spine, are the ideal partners to continue driving the growth of Coflex, CoFix, HPS, and related spinal fixation technologies.
“This transaction places Paradigm Spine with a team of people who are well-equipped to complete the remaining clinical and regulatory work and take these fantastic technologies to the next level. We look forward to completing this transaction in a timely manner.”
Under the agreement, Companion Spine will pay $19.2m, consisting of $11m in cash at closing and $8.2m in short-term seller financing.
The transaction is expected to close in the third quarter of 2025, pending financing and other customary conditions.
Companion Spine plans to integrate certain Xtant US and global commercial organisation members to support the acquired products.
Xtant Medical intends to use the proceeds from the sale to reduce long-term debt and enhance cash liquidity.
The acquisition will position Companion Spine as a sole provider of a full range of indication-specific products for dynamic stabilisation and motion preservation implants.
Companion Spine’s portfolio includes the DIAM Spinal Stabilisation System, LISA Lumbar Implant for Stiffness Augmentation, and the APERIUS Percutaneous Interspinous Spacer.
The products address lumbar spinal stenosis and degenerative disc disease across various stages of disease progression, with minimally invasive surgical implant systems.
Companion Spine executive chairman and CEO Anthony Viscogliosi said: “This is an incredible opportunity to bring together two highly complementary product offerings to enhance Companion Spine’s ability to provide solutions across the full spectrum of pathological stages of LSS and DDD.
“We are confident we will create value for our stakeholders, building on our shared history with the most experienced management team in posterior dynamic spine stabilisation and motion preservation.
“We know the business, its customers and its talented team very well. There is much to look forward to as we build upon this momentum to realise our vision and continue to support patients and surgeons globally.”
