CTL Medical Corporation recently announced it has reached an agreement to acquire AccelSPINE.
According to information in a company press release, the acquisition went into effect Jan. 25, 2016. CTL Medical Corporation will wholly own AccelSPINE, but the AccelSPINE brand will remain intact until integration of the company is complete and regulatory measures have been met. All AccelSPINE employees and executives will be retained, and additional workforce is anticipated by 2017.
“AccelSPINE is a leader in our industry, and they have a proven track record of producing exceptional medical products. Acquiring AccelSPINE not only helps advance our global growth strategy, but it also helps us meet the needs of our growing customer base,” Andy Choi, chief business development officer of CTL Medical Corporation, said in the release.
AccelSPINE received its CE mark and EN ISO 13485 certification in 2015, which allowed the company to expand its customer base to the European Union and the five countries that adhere to European Union regulations.