Medtronic plc announced it has entered into a definitive agreement to acquire Titan Spine, including the company’s complete portfolio, which consists of a comprehensive line of titanium, surface-enhanced interbody fusion devices.
“Titan Spine is thrilled to enter into a definitive agreement with Medtronic, who have long been the leading organization within the spine industry,” Peter Ullrich, MD, CEO of Titan Spine, said in a company press release. “Combining Titan Spine’s groundbreaking nanoLock surface technology with Medtronic’s commercial strength will make a dramatic impact on the spine market, particularly for the improvement of patient outcomes.”
Subject to satisfaction of customary closing conditions, including receipt of regulatory clearances, the release noted the acquisition is expected to close during Medtronic’s first fiscal quarter ending July 26, 2019.
“We’ve built the broadest spine portfolio — implants, instruments, enabling technologies and biologics — in order to provide complete procedural solutions for surgeons’ biggest challenges,” Jacob Paul, senior vice president and president of the spine division, which is part of the restorative therapies group at Medtronic, said in the release. “Titan Spine has pioneered the spine implant surface technology category over the past several years. We feel that surface-enhanced titanium implants combined with our comprehensive biologics portfolio can have a positive impact on patient outcomes in spinal procedures.”