RTI Surgical acquired minimally invasive treatment developer Zyga Technology. Details of the acquisition were not disclosed.
Here are four insights:
1. RTI Surgical plans to fund the acquisition through cash and borrowing under its existing credit. Closing will occur following Delaware Department of State's filing.
2. Zyga Technology employs roughly 30 individuals and brings in nearly $4 million in annual revenue.
3. Zyga Technology is a developer of spine-focused medical devices used in minimally invasive lumbar spine surgery. The SImmetry Sacroiliac Joint Fusion System is the company’s signature device.
4. RTI Surgical develops biologic, metal and synthetic implants. The company’s implants are used in sports medicine, general surgery, spine, orthopedic, trauma and cardiothoracic procedures.
“Acquiring Zyga Technology further advances our strategic transformation focused on reducing complexity, driving operational excellence and accelerating growth,” said Camille Farhat, RTI Surgical president and CEO. “We are increasing our
focus on both internal development and external investment, and acquiring Zyga Technology’s innovative minimally invasive treatment both accentuates our robust spine portfolio and opens significant opportunities to accelerate growth.”