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Orthofix and SeaSpine have announced a definitive all-stock merger of equals, creating a leading global company in spine and orthopedics. The combined entity will integrate both companies' portfolios, yielding approximately $693 million in revenue and significant cross-selling opportunities. SeaSpine shareholders will receive 0.4163 shares of Orthofix for each share held. The transaction, expected to close in Q1 2023, is anticipated to generate $40 million in annualized cost savings and be adjusted EBITDA accretive by the second year post-close.
Orthofix and SeaSpine have announced a definitive agreement for an all-stock merger, creating a leading global spine and orthopedics company. The combined company will possess complementary portfolios valued at approximately $693 million. SeaSpine shareholders will receive 0.4163 shares of Orthofix stock per share owned. Orthofix shareholders will control about 56.5% of the new entity. The merger is expected to offer significant revenue synergies, cost savings of at least $40 million annually, and is projected to be EBITDA accretive by the second year post-close.
SeaSpine Holdings Corporation (NASDAQ: SPNE), a leader in medical technology for spinal disorders, will present at the 2022 Ladenburg Thalmann Healthcare Conference on September 29, 2022, at 12:00 p.m. ET. A live and archived webcast will be available on their website.
SeaSpine specializes in surgical solutions for spinal disorders, offering FLASH™ Navigation and a range of spinal implants designed for various surgical needs.
SeaSpine Holdings Corporation (NASDAQ: SPNE) announced the commercial launch of the WaveForm TA (TLIF Articulating) Interbody System. This innovative interbody is designed for optimal sagittal alignment and endplate support, featuring multiple options to address specific surgical needs. The U.S. TLIF market for 3D-printed and titanium products is approximately $175 million. Senior VP Dennis Cirino highlighted the system's efficiency, allowing compatibility with existing SeaSpine instruments. The product promises improved subsidence resistance and imaging capabilities, as endorsed by Dr. Alex Mohit from NeoSpine.
SeaSpine Holdings Corporation (NASDAQ: SPNE) will present at the Inaugural Gilmartin Group Emerging Growth Company Showcase on August 31, 2022, at 9:30 a.m. PT / 12:30 p.m. ET. The presentation will be available via a live webcast, and an archived version can be accessed later on the SeaSpine investor relations website. SeaSpine specializes in surgical solutions for spinal disorders, providing market-leading technology and a diverse range of spinal implants and orthobiologics to enhance surgical accuracy and efficiency.
SeaSpine Holdings Corporation (NASDAQ: SPNE) reported a strong second quarter 2022 with total revenue reaching $56.3 million, a 19% year-over-year increase. U.S. revenue rose 16% to $49.5 million, driven by growth in spinal implants and orthobiologics. The company achieved a GAAP gross margin of 66.0%. However, net loss increased to $13.9 million compared to $5.2 million in the previous year. SeaSpine raised its full-year revenue guidance to $234 to $236 million, reflecting 22% to 23% growth over 2021.
SeaSpine Holdings Corporation (NASDAQ: SPNE) has launched the Meridian Anterior Lumbar Interbody System, featuring the Reef A interbody, targeting a $200 million U.S. market. This modular system enhances the ALIF procedure, offering versatile fixation options for single to multilevel surgeries. The Reef A interbody utilizes NanoMetalene® surface technology to improve biomechanical stability and is designed to work with future products like the WaveForm A 3D-Printed Interbody System. The company aims to provide simplicity and versatility in spinal surgery solutions.
SeaSpine Holdings Corporation (NASDAQ: SPNE) announced its participation in the Canaccord Genuity 42nd Annual Global Growth Conference scheduled for August 10, 2022, starting at 8:00 AM ET. The event aims to showcase the company's innovative surgical solutions for spinal disorders, including its FLASH™ Navigation system, which enhances surgical accuracy. A live and archived webcast will be accessible on SeaSpine's website. The company specializes in advanced spinal implants and orthobiologics, serving markets in the U.S. and approximately 30 countries.
SeaSpine Holdings Corporation (NASDAQ: SPNE) announced it will release its second quarter financial results on August 2, 2022, after market close. The management team will host a conference call at 1:30 PM PT/4:30 PM ET. This session will provide insights into the company's performance, focusing on its surgical solutions for spinal disorders, including the FLASH™ Navigation system. Interested parties can access the call through registration and the company's website. SeaSpine is committed to addressing evolving clinical needs in spinal surgery across approximately 30 countries.
SeaSpine Holdings Corporation (NASDAQ: SPNE) announced an amendment to its credit facility with Wells Fargo, extending the maturity to July 27, 2025. This amendment also allows the company to increase its $30 million borrowing limit by an additional $10 million. The capital raised will support new product launches and growth strategies. The company focuses on surgical solutions for spinal disorders, leveraging innovative technologies like FLASH™ Navigation. This facility aims to enhance liquidity and facilitate ongoing revenue growth.
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