Companion Spine to acquire Paradigm Spine from Xtant Medical

BORDEAUX, France & NEW YORK - Companion Spine LLC announced it has entered into a definitive agreement to acquire Paradigm Spine and its product portfolio from Xtant Medical Holdings, Inc. (NYSE:XTNT). The acquisition, expected to close in the third quarter of 2025, aims to strengthen Companion Spine’s position in posterior dynamic spine stabilization and motion preservation technologies.

The transaction includes the Coflex Interlaminar Stabilization device, CoFix Posterior MIS Fusion System, and other Paradigm Spine products distributed globally. These systems have been used in more than 265,000 patients across 60 countries, according to the company’s press release. Xtant has demonstrated strong business momentum, with InvestingPro data showing impressive revenue growth of 20.81% and a notable 43.35% stock price increase over the past six months.

"This is an incredible opportunity to bring together two highly complementary product offerings to enhance Companion Spine’s ability to provide solutions across the full spectrum of pathological stages of LSS and DDD," said Anthony G. Viscogliosi, Executive Chairman and Chief Executive Officer of Companion Spine.

The combined portfolio will focus on treating lumbar spinal stenosis and degenerative disc disease through minimally invasive surgical implant systems. Following the acquisition, Companion Spine will offer products including the DIAM Spinal Stabilization System, LISA Lumbar Implant, and APERIUS Percutaneous Interspinous Spacer alongside Paradigm Spine’s technologies.

For Xtant Medical, the divestiture allows the company to focus on its core business while reducing debt. With a current ratio of 2.34, InvestingPro data indicates the company’s liquid assets comfortably exceed its short-term obligations. "This is a terrific transaction for both organizations," said Sean Browne, Chief Executive Officer of Xtant Medical. Investors seeking deeper insights can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports, available for over 1,400 US stocks including XTNT.

Companion Spine was founded in 2020 with operations in New York and Bordeaux, France. The company previously acquired a portfolio of dynamic stabilization products from Medtronic and later added Backbone SA’s LISA dynamic stabilization business.

Viscogliosi Brothers, LLC, the controlling shareholder of Companion Spine, will support the acquisition and transition. The transaction remains subject to closing conditions.

In other recent news, Xtant Medical Holdings Inc. reported a strong financial performance for Q1 2025, with revenues reaching $32.9 million, marking an 18% increase compared to the previous year. The company achieved a net income of $58,000, a significant turnaround from a $4.4 million net loss in Q1 2024. Xtant Medical also announced the launch of OsteoFactor Pro™, a new product designed to enhance bone healing, further expanding their portfolio in orthobiologics. Additionally, Xtant Medical has entered into an agreement to sell certain spinal implant assets to Companion Spine, LLC for approximately $19.2 million, a move aimed at reducing long-term debt and improving cash liquidity. This transaction is expected to close in the third quarter of 2025. Moreover, the company has terminated a restrictive investor rights agreement, welcoming a new major investor, which could potentially influence its strategic direction. Analyst firm Craig Hallum noted the company’s growth factor business strategy and expectations for improved cash flow later in the year. These developments reflect Xtant Medical’s ongoing efforts to strengthen its market position and financial health.

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