Here are five key points:
1. SeaSpine will acquire substantially all NLT assets.
2. NLT’s product portfolio includes vertical, lordotic and footprint expanding interbody technologies for lumbar fusion procedures treating degenerative spinal conditions.
3. The acquisition involves an “upfront cash payment, issuance of common stock upon achievement of a near-term regulatory milestone, longer-term commercially-based milestone payments as well as future revenue-based royalties,” according to the press release.
4. With input from spine surgeons, SeaSpine will enhance NLT’s existing products before full commercial launch of the MIS interbody solutions.
5. SeaSpine noted the acquisition will not change its 2016 revenue guidance, and it still plans to pay up to $1.7 million for acquisition considerations, transaction costs and transition services fees in 2016.
“This transaction strengthens our future product offerings and broadens our growing portfolio of differentiated interbody solutions, one of the fastest growing market segments within spine, while demonstrating to distributors and the surgeon community our commitment to innovation, including through strategic acquisitions,” said Keith Valentine, president and CEO, SeaSpine.
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