1. In February, Orthofix discontinued its M6-C and M6-L total disc replacement devices. Orthofix said the sell-off allows it to focus exclusively on its spinal and deformity correction business.
2. In January, Stryker decided to sell off its spinal implant business to investment firm Viscogliosi Brothers to “better align” its resources, according to CEO Kevin Lobo.
3. In January, Charlotte, N.C.-based OrthoCarolina sold its physical therapy business to Atlanta-based PT Solutions Physical Therapy. The sale is allegedly part of a strategy to focus on patient care and orthopedic surgeries.
4. Spectrum Healthcare Partners in Portland, Maine, lost its orthopedic division Spectrum Orthopaedics in November. The orthopedic group plans to sell a 50% stake in its ownership to Growth Orthopedics Services for $16 million. The practice did not clarify why the separation occurred.
5. In October, Exactech sold off its assets to a group of investors. The restructuring happened after Exactech filed for Chapter 11 bankruptcy. Darin Johnson, Exactech’s president and CEO said, “Despite the strength of the underlying business, we face unsustainable liabilities associated with knee-and-hip litigation related to the packaging recalls we voluntarily initiated between 2021 and 2022. We take our commitment to patient well-being very seriously and have provided substantial out-of-pocket patient reimbursements and surgeon support for related expenses.”
