Xtant Medical Holdings, Inc. (XTNT), a global medical technology company, Tuesday said it has agreed to sell certain Coflex and CoFix interlaminar stabilization implant assets and all OUS entities of Paradigm Spine GmbH, to Companion Spine, LLC for $19.2 million, including $11 million in cash and $8.2 million in short-term seller financing.
Xtant plans to use the proceeds to reduce long term debt and to improve liquidity.
Additionally, the company intends to transition certain members of the Xtant U.S. and international commercial organizations, who will continue to support these products.
The deal is expected to close in the third quarter of 2025.
"This transaction is a significant step for us as we focus on our core business - the development of higher-margin, best-in-class orthobiologics - while also strengthening our balance sheet and streamlining our operations," said Sean Browne, President and CEO of Xtant Medical.
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