RTI Surgical has announced it has completed the acquisition of Paradigm Spine.
Paradigm Spine’s primary product is the Coflex interlaminar stabilisation device. According to a press release, this is a “differentiated, minimally invasive motion preserving stabilisation implant that is FDA PMA-approved for the treatment of moderate to severe lumbar spinal stenosis (LSS) in conjunction with decompression.”
“[The acquisition of Paradigm] marks the second completed acquisition for RTI’s spine portfolio since the second half of 2017 when we initiated a strategic transformation to reduce complexity, drive operational excellence and accelerate growth for RTI,” said Camille Farhat, president and CEO, RTI Surgical.
Farhat added: “The addition of coflex allows RTI to provide surgeons who treat patients with moderate to severe LSS a PMA-approved device supported by more than 12 years of clinical data and with expanding coverage from payors. With RTI’s demand generation expertise, scale and infrastructure and the experience of key members of the legacy Paradigm Spine team joining RTI, we are well-positioned to grow coflex as the treatment of choice and standard of care for appropriate LSS patients.”
Piper Jaffray & Co. served as financial advisers to RTI, and Sidley Austin LLP and Holland & Knight LLP served as legal counsel on the transaction and financing, respectively. Dorsey & Whitney LLP served as legal counsel to Paradigm Spine.