M&A Deal Summary

Companion Spine Acquires Xtant Medical - Coflex and CoFix Spinal Implants and All OUS Businesses

On July 8, 2025, Companion Spine acquired medical products company Xtant Medical - Coflex and CoFix Spinal Implants and All OUS Businesses from Xtant Medical for 19M USD

Acquisition Highlights
  • This is Companion Spine’s 1st transaction in the Medical Products sector.
  • This is Companion Spine’s largest (disclosed) transaction.
  • This is Companion Spine’s 1st transaction in the United States.
  • This is Companion Spine’s 1st transaction in Montana.

M&A Deal Summary

Date 2025-07-08
Target Xtant Medical - Coflex and CoFix Spinal Implants and All OUS Businesses
Sector Medical Products
Buyer(s) Companion Spine
Sellers(s) Xtant Medical
Deal Type Divestiture
Deal Value 19M USD

Target

Xtant Medical - Coflex and CoFix Spinal Implants and All OUS Businesses

Belgrade, Montana, United States
Xtant Medical's Coflex and CoFix Spinal Implants and All OUS Businesses offer a comprehensive portfolio of posterior dynamic spine stabilization and motion-preserving solutions. Xtant Medical's Coflex and CoFix Spinal Implants and All OUS Businesses are based in Belgrade, Montana.

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Buyer(S) 1

Buyer

Companion Spine

Merignac, France

Category Company
Founded 2020
Sector Medical Products
DESCRIPTION

Companion Spine is a medical technology company specializing in interventional therapies and minimally invasive surgical solutions for spine-related disorders. Companion Spine was founded in 2020 and is based in Bordeaux, France.


DEAL STATS #
Overall 1 of 1
Sector: Medical Products M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Montana M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Xtant Medical

Belgrade, Montana, United States

Category Company
Sector Medical Products
Employees217
Revenue 117M USD (2024)
DESCRIPTION

Xtant Medical is a developer of biologics products to domestic and international markets. Xtant Medical is based in Belgrade, Montana.


DEAL STATS #
Overall 1 of 1
Sector: Medical Products M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Montana M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-01 Surgalign s Coflex Product Line

Deerfield, Illinois, United States

Surgalign's Coflex Product Line comprises interlaminar stabilization device used after an open decompression that can be performed in various settings, offering a non-fusion treatment option for lumbar spinal stenosis (LSS) patients. The number of patients diagnosed globally with LSS is approximately 2.4 million representing the largest single-growing patient demographic in spine. The Coflex device is the only FDA PMA-approved implant for the treatment of LSS, has been implanted in more than 200,000 patients in over 60 countries, is clinically validated with more than 90 peer reviewed publications and has established Ambulatory Surgery Center (ASC) reimbursement. Cofix is a supplemental fixation device, which is a minimally invasive system intended for use on all levels of the lumbar spine.

Buy $17M