Alphatec to acquire French medical devices company EOS imaging for $122m
Alphatec Holdings (ATEC), a US-based provider of spine surgery solutions, is acquiring EOS imaging, a French medical devices company, in a deal worth about $122 million.
The consideration includes a purchase price of up to $88 million and a debt retirement of $33.9 million.
EOS imaging is engaged in developing and marketing advanced imaging and image-based solutions for musculoskeletal pathologies and also orthopedic surgical care.
The French medical devices company’s capabilities include rapid, low dose, biplanar full-body imaging, and 3D modeling.
Its EOS technology provides information for the entire surgical process by capturing a calibrated, full-body image in a standing position, thereby helping in precise measurement of anatomical angles and dimensions. The subsequent imaging is said to develop a more accurate understanding of patient alignment during diagnosis, increases the possibility of surgical goal fulfillment by integrating a fully informed plan into surgery, and facilitates a post-operative assessment against the original surgical plan.
Pat Miles – Chairman and CEO of Alphatec Holdings said: “While spine’s large players are investing in enabling technologies, we are thinking differently. We created a conduit to deliver information into the operating room with AlphaInformatiX. This transaction will integrate spine imaging and anatomical modeling onto the platform to actually inform the operative experience.
“By pairing ATEC’s approach-based solutions with imaging founded on Nobel Prize-winning technology, we expect to significantly increase demand for ATEC hardware and EOS systems and create a formidable competitive advantage.”
With the acquisition of EOS imaging, Alphatec will be able to improve its AlphaInformatiX platform and other intraoperative functionalities to meet the requirements of spine surgery.
EOS imaging will further improve the delivering capabilities of AlphaInformatiX platform in patient-specific implants, surgical planning, intraoperative alignment reconciliation, and other intraoperative functionalities.
Mike Lobinsky – CEO of EOS imaging said: “We are very enthusiastic about the opportunity to join the complementary strengths and know-how of EOS imaging and ATEC.
“I have no doubt that our organizations will be able to quickly create a highly differentiated end-to-end offering that will accelerate growth in the U.S. in the short term, while we continue to expand internationally, paving the way for the future global growth of the combined entity.”
The transaction is expected to be completed in the Q3 2020, subject to customary closing conditions.