Business
Xtant Medical Completes Sale of its Coflex® Assets and Paradigm OUS Businesses to Companion Spine
Xtant Medical Holdings, Inc. (NYSE American: XTNT), a global medical technology company focused on surgical solutions for spinal and other orthopedic conditions, today announced that the company has completed its previously announced sale of certain non-core Coflex® spinal implant assets and all OUS entities of Paradigm Spine GmbH to Companion Spine, LLC, and its affiliates.
About this update from Xtant Medical Holdings, Inc.
[{"type":"text","content":"BELGRADE, Mont., Dec. 1, 2025 /PRNewswire/ -- Xtant Medical Holdings, Inc. (NYSE American: XTNT), a global medical technology company focused on surgical solutions for spinal and other orthopedic conditions, today announced that the company has completed its previously announced sale of certain non-core Coflex® spinal implant assets and all OUS entities of Paradigm Spine GmbH to Companion Spine, LLC, and its affiliates.","length":423,"tagName":"p"},{"type":"image","alt":"Xtant Medical Logo (PRNewsfoto/Xtant Medical Holdings, Inc.)","displaySize":"","headline":null,"caption":"Xtant Medical Logo (PRNewsfoto/Xtant Medical Holdings, Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":260,"url":"https://media.zenfs.com/en/prnewswire.com/46c9cfa2f4f133a34a9e506f23e2f7a1"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/ylwl3kRtmzHnxrBIw2IQ3g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ1ODtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/46c9cfa2f4f133a34a9e506f23e2f7a1","width":400,"height":260}},"href":"https://mma.prnewswire.com/media/2725938/XTNT_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The purchase price of the transaction was approximately $19.2 million, consisting of $11.0 million in cash and $8.2 million in short-term seller financing in the form of an unsecured promissory note issued by Companion Spine to Xtant, which note is subject to purchase price adjustments. The promissory note matures on January 15, 2026. Xtant intends use the net proceeds from the transactions to reduce long-term debt and provide additional cash liquidity.","length":457,"tagName":"p"},{"type":"text","content":"Sean Browne, President and CEO of Xtant Medical, stated, "The sale of these businesses to Companion Spine represents a significant step forward for Xtant as we enhance our focus on our core biologics business, driving innovation for surgeons and patients, and delivering sustained improvements in our financial performance. Importantly, we expect that the net proceeds from this transaction, together with our anticipated cash flows generated from operations, will enable us to continue operating without the need for additional external capital. We are immensely proud to have reached this inflection point."","length":619,"tagName":"p"},{"type":"text","content":"The oper...