Xtant Medical Holdings, Announces The Company Has Entered Into Agreements To Sell Certain Coflex And Cofix Interlaminar Stabilization Implant Assets And All OUS Entities Of Paradigm Spine GmbH To Companion Spine LLC. Proceeds Of Transaction Total $19.2M

Xtant Medical Holdings, Inc. (NYSE:XTNT), a global medical technology company focused on surgical solutions for the treatment of spinal, orthopedic, and woundcare disorders, today announced that the company has entered into agreements to sell certain Coflex® and CoFix® interlaminar stabilization implant assets and all OUS entities of Paradigm Spine GmbH, to Companion Spine, LLC, a French-American company fully dedicated to posterior dynamic spine stabilization and motion preservation systems for the treatment of spine and back pain. Companion Spine is a portfolio company of Viscogliosi Brothers, LLC, a family-owned investment firm specializing in the neuro-musculoskeletal space.

The proceeds of the transaction total $19.2 million, consisting of $11 million in cash at closing and $8.2 million in short-term seller financing.  Xtant expects to use the proceeds to reduce long-term debt and provide additional cash liquidity. The transaction is expected to close in the third quarter of 2025.  As part of the transaction, Companion Spine expects to transition certain members of the Xtant U.S. and international commercial organizations, who will continue to support these products.      

Sean Browne, President and CEO of Xtant Medical, stated, "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.  At the same time, these franchises will be in great hands given the Viscogliosi Brothers' proven track record of successful commercial execution in the neuro-musculoskeletal space. We believe they, along with Companion Spine, are the ideal partners to continue driving the growth of Coflex, CoFix, HPS, and related spinal fixation technologies.  This transaction places Paradigm Spine with a team of people who are well-equipped to complete the remaining clinical and regulatory work and take these fantastic technologies to the next level. We look forward to completing this transaction in a timely manner."