Xtant Medical (XTNT) pays $5M for exclusive U.S. HEMOBLAST rights, adds 20 sales staff
Rhea-AI Filing Summary
Xtant Medical Holdings, Inc. has entered into an exclusive U.S. Distribution Agreement with Dilon Technologies, Inc. for the FDA-approved HEMOBLAST® Bellows surgical hemostatic product. Xtant paid Dilon a $5.0 million exclusivity fee, which may be repayable to Xtant if the agreement is terminated under certain conditions.
In connection with the deal, Xtant hired approximately 20 Dilon U.S. sales personnel to support commercialization. Dilon will continue to manufacture HEMOBLAST Bellows in France and supply it to Xtant at a specified transfer price. The companies highlight that HEMOBLAST targets an estimated $2.0 billion global hemostatic market, and Xtant plans to update its full-year 2026 financial guidance when it reports first quarter 2026 results.
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Insights
Xtant secures exclusive U.S. rights to a differentiated hemostat, with upfront cash outlay and added sales headcount.
Xtant Medical has acquired exclusive U.S. distribution rights to Dilon’s FDA-approved HEMOBLAST® Bellows, paying a $5.0 million exclusivity fee and absorbing about 20 U.S. sales staff. The product addresses an estimated $2.0 billion global hemostatic market, broadening Xtant’s surgical solutions portfolio.
The arrangement keeps manufacturing with Dilon in France, with Xtant purchasing at a transfer price outlined in the agreement, and contains no minimum purchase commitments. The fee is repayable to Xtant under certain termination scenarios, partially mitigating long-term risk if the partnership ends.
Financially, the near-term effect is a defined cash outlay and higher commercial expenses from the enlarged sales force. Future filings, including Xtant’s planned update to full-year 2026 guidance with Q1 2026 results, will show how HEMOBLAST adoption and the expanded commercial organization translate into revenue and earnings trends.
8-K Event Classification
Key Figures
Key Terms
Distribution Agreement financial
hemostatic agent medical
exclusivity fee financial
transfer price financial
forward-looking statements regulatory
global addressable market financial
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 7.01 | Regulation FD Disclosure. |
On April 13, 2026, Xtant Medical Holdings, Inc. (“Xtant”) announced that it has entered into a Distribution Agreement (the “Distribution Agreement”) with Dilon Technologies, Inc. (“Dilon”) pursuant to which Xtant has obtained the exclusive rights to import, market, distribute and sell the HEMOBLAST® Bellows product in the United States. The HEMOBLAST® Bellows product is an FDA-approved powder-based, topical, surgical hemostatic agent used to control bleeding during surgical procedures. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Xtant is furnishing the information contained in Exhibit 99.1 pursuant to Regulation FD and Item 7.01 of Form 8-K promulgated by the Securities and Exchange Commission (“SEC”). This information shall not be deemed to be “filed” with the SEC for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
| Item 8.01 | Other Events. |
Xtant entered into the Distribution Agreement with Dilon on April 10, 2026, and in connection therewith, hired approximately 20 Dilon sales personnel to assist in the sale of the HEMOBLAST® Bellows product in the United States. Under the terms of the Distribution Agreement, Dilon will continue to manufacture the Product from its current manufacturing location in France and will supply and sell the Product to Xtant at a specified transfer price as provided in the Distribution Agreement, which price is subject to change under the terms of the Distribution Agreement. The Distribution Agreement does not contain any minimum purchase requirements on behalf of Xtant. Under the terms of the Distribution Agreement, Xtant paid Dilon a $5.0 million exclusivity fee, which fee is subject to repayment by Dilon under certain circumstances, including upon a termination of the Distribution Agreement, which agreement can be terminated by either party upon certain specified events. In connection with entering into the Distribution Agreement, Dilon has also agreed to cooperate with Xtant to transition the existing United States customer base for the Product to Xtant and assign all existing contracts with customers for the Product for sales in the United States to Xtant, subject to Xtant’s review and approval of such agreements. The Distribution Agreement also contains other terms and conditions that are customary for an agreement of this nature.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. | Description | |
| 99.1 | Joint Press Release of Xtant Medical Holdings, Inc. and Dilon Technologies, Inc. dated April 13, 2026 entitled “Xtant Medical and Dilon Technologies Announce Exclusive U.S. Distribution Agreement for Dilon’s HEMOBLAST® Bellows Product” (furnished herewith) | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| XTANT MEDICAL HOLDINGS, INC. | ||
| By: | /s/ Sean E. Browne | |
| Sean E. Browne | ||
| President and Chief Executive Officer | ||
Date: April 13, 2026
Exhibit 99.1
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Xtant Medical and Dilon Technologies Announce Exclusive U.S. Distribution Agreement for Dilon’s HEMOBLAST® Bellows Product
Xtant has hired Dilon’s U.S. sales team to assist in selling the HEMOBLAST® Bellows product and penetrating the estimated $2.0 billion global addressable market for hemostatic products
BELGRADE, Mont., and NEWPORT NEWS, VA., April 13, 2026 — Xtant Medical Holdings, Inc. (NYSE American: XTNT), a medical technology company focused on surgical solutions for spinal and other orthopedic conditions, and Dilon Technologies, Inc., a medical device manufacturer, today announced that the companies have entered into an agreement whereby Xtant has acquired exclusive U.S. distribution rights to Dilon’s HEMOBLAST® Bellows for high-performance hemostasis following certain surgical procedures.
Sean Browne, President and CEO of Xtant Medical, stated, “We are excited to partner with Dilon Technologies to bring HEMOBLAST, a highly complementary hemostatic technology, to a broader group of surgeons. This agreement expands our portfolio with a unique and versatile hemostatic solution while also significantly bolstering our own commercial capabilities with the integration of Dilon’s approximately 20-person U.S. sales team into our organization. With our broadened product offering and enhanced reach and sales capabilities, we believe we can better address the comprehensive needs of surgeons and patients alike while meaningfully expanding our addressable market.”
George Makhoul, CEO of Dilon Technologies, stated, “HEMOBLAST is highly differentiated in the surgical hemostat market with its unique composition as the only collagen/thrombin formulation that provides applicability across minimal, mild, and moderate bleeding types, and we are very pleased to entrust its future growth to Xtant. As a recognized leader in the manufacture and distribution of novel biologics solutions for a range of surgical applications, we believe Xtant is the ideal partner to extend the U.S. commercial reach of HEMOBLAST and achieve its full market potential.”
HEMOBLAST Bellows is a pre-loaded hemostatic powder indicated in surgical procedures as an adjunct to hemostasis when control of minimal, mild, and moderate bleeding by conventional procedures is ineffective or impractical, except in ophthalmic and urological procedures. HEMOBLAST is the only hemostat containing collagen (mechanical hemostat), human derived thrombin (which converts fibrinogen to fibrin, a basic element required for blood clotting), and bovine-derived chondroitin sulfate (which provides cohesion between the wound and surrounding tissue). Delivered via a pre-loaded bellows applicator, HEMOBLAST requires no prep prior to use.
Xtant plans to update its full-year 2026 financial guidance in light of the new distribution arrangement in connection with the release of its first quarter 2026 financial results.
About Dilon Technologies® Inc.
Dilon Technologies Inc., a medical device manufacturer based in Newport News, Virginia, strives to improve the quality of care by providing a wide range of innovative medical device technology that benefits patients around the world. Dilon has a strong medical device portfolio which includes HEMOBLAST Bellows, the only combination powdered surgical hemostat that contains collagen, thrombin and chondroitin sulfate, MarginProbe, a groundbreaking technology for accurate margin assessment in breast cancer surgery, the Navigator System, a surgical gamma probe system for radio-guided lymphatic mapping and tumor localization, TrueView Pro 100, a specimen radiography system (SRS) that uses advanced radiography and automated software to precisely identify tumor lesions in resected or biopsied breast tissue, and the CoPilot, an innovative, portable, and easy to use video laryngoscope.
About Xtant Medical Holdings, Inc.
Xtant Medical’s mission of honoring the gift of donation so that our patients can live as full and complete a life as possible, is the driving force behind our company. Xtant Medical Holdings, Inc. (www.xtantmedical.com) is a global medical technology company focused on the design, development, and commercialization of a comprehensive portfolio of orthobiologics serving the chronic and surgical wound care and sports medicine markets, as well as spinal implant systems. Xtant people are dedicated and talented, operating with the highest integrity to serve our customers.
The symbols ™ and ® denote trademarks and registered trademarks of Xtant Medical Holdings, Inc. or its affiliates, registered as indicated in the United States, and in other countries. All other trademarks and trade names referred to in this release are the property of their respective owners.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as “intends,” ‘‘expects,’’ ‘‘anticipates,’’ ‘‘plans,’’ ‘‘believes,’’ ‘‘estimates,’’ “continue,” “future,” ‘‘will,’’ “potential,” similar expressions or the negative thereof, and the use of future dates. Forward-looking statements in this release include Xtant’s expectations regarding the exclusive distribution arrangement and its ability to better address the comprehensive needs of surgeons and patients. Xtant cautions that its forward-looking statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others: the success of the distribution arrangement and the HEMOBLAST® Bellows product, including future U.S. sales and the additional U.S. sales personnel and their impact on Xtant’s business and operating results; the possibility that the distribution agreement may be terminated by either party; the effect of the distribution agreement on Xtant’s business, including its relationships with other distributors, independent sales representatives and personnel, and its business and operating results; Xtant’s future operating and financial performance and its ability to increase or maintain revenue; the success of Xtant’s expanded field sales force to improve Xtant’s reach and leverage its outstanding contract portfolio and independent agent network; its ability to become operationally self-sustaining and less reliant on third-party manufacturers and suppliers; risks associated with acquisitions and dispositions; its ability to implement successfully its future growth initiatives and risks associated therewith; possible future impairment charges to long-lived assets and goodwill and write-downs of excess and obsolete inventory; its ability to continue to innovate, develop and introduce new products and the success of those products; its ability to remain competitive; its ability to engage and retain new and existing independent distributors and agents and qualified sales and other personnel and its dependence on key independent agents for a significant portion of its revenue; the effect of inflation, elevated interest rates and other recessionary factors and supply chain disruptions; the effect of product sales mix changes on its financial results; its ability to service its debt, comply with debt covenants, and access additional indebtedness or financing on favorable terms or at all, if and when needed, and other risk factors contained in Xtant’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (SEC) on March 31, 2026 and subsequent SEC filings by Xtant. Investors are encouraged to read Xtant’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. Xtant undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law. All forward-looking statements attributable to Xtant or persons acting on its behalf are expressly qualified in their entirety by this cautionary statement.
Investor Relations Contact:
For Xtant Medical:
Kevin Gardner
LifeSci Advisors
kgardner@lifesciadvisors.com
-OR-
Rob Windsor
LifeSci Advisors
rwindsor@lifescipartners.com
For Dilon Technologies:
George Makhoul
CEO, Dilon Technologies
(877) 463-4566
info@dilon.com