SeaSpine Acquires NLT Spine Technologies

SeaSpine Holdings Corporation is expanding, with the recent announcement that it will be acquiring the assets of NLT Spine Ltd. (NLT), an Israel-based medical device company focused on spinal products for minimally invasive surgery (MIS).

According to the August 18, 2016 news release, “NLT’s platforms include vertical, lordotic and footprint expanding interbody technologies for use in lumbar fusion procedures for the treatment of degenerative spinal conditions. By allowing surgeons to place smaller interbody implants that expand within the interbody space, these patented technologies are designed to enable smaller incisions and less nerve retraction, while achieving the same advantages of larger implants but with easier insertion and potentially less tissue disruption.”

“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 SeaSpine President and Chief Executive Officer Keith Valentine. “The deal structure allows us to acquire differentiated assets with modest upfront investment, while deferring the majority of consideration to sales-based payments and commercially-based milestones. Equally important, it reflects the belief of NLT’s investors in both the potential of their technology and our ability to commercialize it successfully.”

“We’re pleased to add our line of products and technologies to SeaSpine’s comprehensive suite of offerings in the spine intervention market, ” said NLT President and Chief Executive Officer Didier Toubia. “We see SeaSpine as the ideal group to bring to market and drive adoption of our innovative interbody spine solutions, which we believe will benefit patients and our shareholders, now and in the longer-term.”

SeaSpine CFO John Bostjancic told OTW, “SeaSpine has a novel, market differentiated technology in NanoMetalene for interbody fixation, and the NLT portfolio will help us expand and further penetrate the growing interbody spine market. This acquisition also demonstrates our commitment to innovation, both organic and inorganic, and it underscores our desire to provide the best patient solutions for our distributor and surgeon partners. Interbody implants is a fast growing segment of the market, and it’s an opportunistic time to quickly expand our portfolio through acquisition.

“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. The deal structure allows us to acquire differentiated assets with modest upfront investment, while deferring the majority of consideration to sales-based payments and commercially-based milestones. Equally important, it reflects the belief of NLT’s investors in both the potential of their technology and our ability to commercialize it successfully.”