Medical device manufacturer Highride Medical, one of the world’s largest privately held spine companies, is selling its bone healing division to focus exclusively on spine.
Highride has completed the sale of the division to private equity-backed firm Avista Healthcare Partners, according to a June 4 news release.
Highride plans to use the proceeds from the sale to drive long-term growth of its spine portfolio, and innovate and expand commercial capabilities.
The bone healing division, which specializes in noninvasive and implantable bone growth stimulation therapies for spine, orthopedics and podiatrists, will now operate as an independent company.
“Divesting the bone healing division allows Highridge to further sharpen our focus on our most promising growth opportunities. We are committed to driving innovation in partnership with our surgeon customers to deliver innovative spinal solutions to enhance patient outcomes,” Rebecca Whitney, CEO of Highridge, said in the release.
Terms of the sale have not been disclosed.
