Companion Spine LLC Announces Definitive Agreement to Acquire the Business and Assets of Paradigm Spine GmbH and the Coflex庐 and CoFix庐 Spine Implants from Xtant鈩� Medical Holdings, Inc.
- Strategic step to strengthen Companion Spine鈥檚 global leadership in posterior dynamic spine stabilization and spine motion preservation.
- The combined product portfolio will reinforce Companion Spine鈥檚 innovative and leading international business platform focused on the treatment of spine pain resulting from lumbar spinal stenosis and degenerative disc disease, two of the main causes of disability globally.
- Anticipated completion of the acquisition is in 3Q25.
Paradigm Spine GmbH is headquartered in Wurmlingen,
The Paradigm Spine products available only outside of the
Together with the portfolio of Companion Spine products, including the DIAM鈩� Spinal Stabilization System (鈥淒IAM鈩⑩��), LISA鈩� Lumbar Implant for Stiffness Augmentation (鈥淟ISA鈩⑩��) and the APERIUS鈩� Percutaneous Interspinous Spacer (鈥淎PERIUS鈩⑩��), the Company will be in the position to treat the full range of lumbar spinal stenosis (鈥淟SS鈥�) and degenerative disc disease (鈥淒DD鈥�) conditions across the spectrum of disease progression.
With this acquisition, Companion Spine continues to expand its mission to safely and effectively treat spine pain through treating lumbar and cervical diseases. The Company will offer a full range of minimally invasive surgical (鈥淢IS鈥�) implant systems tailored to each stage of the disease condition and focused on delivering the systems for use in the outpatient care setting.
This acquisition positions Companion Spine to be the holder of the world鈥檚 largest and most comprehensive product portfolio of MIS posterior dynamic spine stabilization and motion preserving solutions, dedicated to restoring form, function, motion, balance and stabilization while reducing or eliminating pain. This is the essence of the Company鈥檚 commitment to innovation and excellence in spine care.
鈥淭his is an incredible opportunity to bring together two highly complementary product offerings to enhance Companion Spine鈥檚 ability to provide solutions across the full spectrum of pathological stages of LSS and DDD,鈥� said Anthony G. Viscogliosi, Executive Chairman and Chief Executive Officer of Companion Spine. 鈥淲e are confident we will create value for our stakeholders, building on our shared history with the most experienced management team in posterior dynamic spine stabilization and motion preservation. Paradigm Spine was previously part of the Viscogliosi Brothers portfolio and sold in 2019. We are now re-acquiring it, bringing it back into our portfolio through Companion Spine. We know the business, its customers and its talented team very well. There is much to look forward to as we build upon this momentum to realize our vision and continue to support patients and surgeons globally.鈥�
Mr. Viscogliosi continued, 鈥淐ompanion Spine, co-founded by former CEO Erick Cloix, may he rest in peace and joy, was formed through the acquisition of a dynamic stabilization and motion preservation product portfolio from Medtronic, which included DIAM鈩�, APERIUS鈩� and other implants. Then, the Company was complemented by the acquisition of Backbone SA and its LISA鈩� dynamic stabilization business. Now, with the planned acquisition of Paradigm Spine, the Company will become the largest posterior and cervical dynamic stabilization franchise business in the world.鈥�
Mr. Viscogliosi was elected CEO following the passing of former CEO Erick Cloix on March 29, 2025. Viscogliosi Brothers, LLC, the controlling shareholder and largest shareholder of Companion Spine, will support the acquisition close and transition period for the combined company, bringing deep domain expertise to ensure long-term business stability and growth. Already recognized leaders in disc replacement and spine fusion, the Viscogliosi Brothers continue to establish themselves also as a global leader in the posterior dynamic spine stabilization and motion preservation market through this expansion opportunity of Companion Spine.
鈥淭his is a terrific transaction for both organizations,鈥� said Sean Browne, Chief Executive Officer of Xtant Medical. 鈥淔or Xtant, the sale of these business units allows us to strategically focus on our core business, while meaningfully reducing our debt and improving our balance sheet. Moreover, these fantastic motion preservation technologies such as Coflex庐, HPS鈩� 2.0 and DCI鈩� will get the kind of focus only the Viscogliosi Brothers and Companion Spine can provide to optimize their commercial development. This type of development is in the DNA of the Viscogliosi Brothers, while it is far afield of Xtant Medical鈥檚 core competencies; so we expect big things for Companion Spine in the years ahead.鈥�
The acquisition is poised to accelerate Companion Spine鈥檚 global market expansion, strengthening its presence in the
Following the close of the acquisition, Companion Spine will become the first sole source provider of a full range of an indication-specific product portfolio for customers using dynamic stabilization and motion preservation implants. The range of products and uses include: APERIUS鈩� for early stage LSS, Coflex庐 when a decompression is required for LSS or CoFix庐 when a larger decompression is needed and there exists a significant amount of instability for LSS, or HPS鈩� 2.0 or DSS鈩� when there is significant instability but a desire to preserve adjacent segments. In the cervical anatomy, DCI鈩� is designed as a Coflex庐 concept applied in an anterior interbody fashion, for maintenance of motion. Lastly, Companion Spine鈥檚 DIAM鈩� product is designed for use in DDD patients.
The companies expect to complete the acquisition in the third quarter of 2025, subject to closing conditions. Innovatus Capital Partners is the current senior lender to Companion Spine. Companion Spine is advised in this acquisition by Dorsey & Whitney, LLP as lead legal counsel, McDermott Will & Emery as tax and German legal counsel, Farber LLC as intellectual property legal counsel, Natixis Partners as capital access financial advisor, FTI Consulting as strategic communications advisor, Deloitte Finance as financial due diligence advisor, MCRA as regulatory, clinical and reimbursement advisor, and UHY LLP as
About Companion Spine
Founded in 2020 in
For more information, please visit:
About Paradigm Spine
Paradigm Spine is a provider of non-fusion and fusion spinal implant solutions that serve to address the unmet clinical needs of spine surgeons and their patients. Starting with the Coflex庐 Interlaminar Stabilization庐 device, Paradigm Spine develops a full non-fusion product portfolio of motion preserving, tissue sparing technologies, as well as fusion products. Their commitment is to lead the positioning of non-fusion technologies to the forefront of improving the quality of life in patients with spinal diseases through being surgeon centric, indication specific and data driven.
About Xtant Medical Holdings, Inc.
Xtant Medical's mission of honoring the gift of donation so that our patients can live as full and complete a life as possible, is the driving force behind our company. Xtant Medical Holdings, Inc. (www.xtantmedical.com) is a global medical technology company focused on the design, development, and commercialization of a comprehensive portfolio of orthobiologics serving the chronic and surgical wound care and sports medicine markets, as well as spinal implant systems. Xtant people are dedicated and talented, operating with the highest integrity to serve our customers.
The symbols 鈩� and 庐 denote trademarks and registered trademarks of Xtant Medical Holdings, Inc. or its affiliates, registered as indicated in
About Viscogliosi Brothers, LLC
Viscogliosi Brothers is a family-owned
About Viscogliosi Brothers Watermark
Viscogliosi Brothers Watermark LLC is a
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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as 鈥渋ntends,鈥� 鈥樷�榚xpects,鈥欌�� 鈥樷�榓nticipates,鈥欌�� 鈥樷�榩lans,鈥欌�� 鈥樷�榖elieves,鈥欌�� 鈥樷�榚stimates,鈥欌�� 鈥渃ontinue,鈥� 鈥渇uture,鈥� 鈥樷�榳ill,鈥欌�� 鈥減otential,鈥� 鈥済oing forward,鈥� 鈥済uidance,鈥� similar expressions or the negative thereof, and the use of future dates. The Company cautions that its forward-looking statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others: the Company鈥檚 future operating results and financial performance; its ability to increase or maintain revenue; the Company鈥檚 ability to become operationally self-sustaining and less reliant on third-party manufacturers and suppliers; risks associated with its acquisitions and the integration of those businesses; the ability to implement successfully its future growth initiatives and risks associated therewith; possible future impairment charges to long-lived assets and goodwill and write-downs of excess inventory; the ability to remain competitive; the ability to innovate, develop and introduce new products and the success of those products; the ability to engage and retain new and existing independent distributors and agents and qualified personnel and the Company鈥檚 dependence on key independent agents for a significant portion of its revenue; the effect of labor and hospital staffing shortages on the Company鈥檚 business, operating results and financial condition, especially when they affect key markets; the effect of inflation, increased interest rates and other recessionary factors and supply chain disruptions; the effect of product sales mix changes on the Company鈥檚 financial results; government and third-party coverage and reimbursement for Company products; the ability to obtain and maintain regulatory approvals and comply with government regulations; the effect of product liability claims and other litigation to which the Company may be subject; the effect of product recalls and defects; the ability to license certain of the Company鈥檚 intellectual property on commercially reasonable terms and to maintain any such licenses; the ability to obtain and protect Company intellectual property and proprietary rights and operate without infringing the rights of others; risks associated with the Company鈥檚 clinical trials; international risks; the ability to service Company debt, comply with its debt covenants and access additional indebtedness; the ability to maintain sufficient liquidity to fund its operations and obtain financing on favorable terms or at all; and other factors. The Company undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this cautionary statement.
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Companion Spine
Anthony G. Viscogliosi
Executive Chairman and Chief Executive Officer of Companion Spine
[email protected]
Xtant Medical
Kevin Gardner
LifeSci Advisors
[email protected]
-OR-
Rob
LifeSci Advisors
[email protected]
Source: Companion Spine
