Medtronic has completed the acquisition of Titan Spine; a definitive acquisition agreement between the two companies was previously announced on 9 May 2019. A Medtronic press release reports that the acquisition of Titan Spine strengthens Medtronic’s position as a leading innovator in procedural solutions for spinal surgery.
The press release adds that Titan Spine pioneered and leads the category of surface-enhanced titanium interbody implants with its nanoLOCK platform. Adding Titan Spine’s product portfolio to Medtronic’s existing spine technologies expands opportunities to bundle interbodies, screws, rods, biologics and enabling technologies like imaging and navigation to develop integrated procedural solutions. Titan Spine joins Medtronic’s Spine division, which is part of the Restorative Therapies Group. The transaction acquisition is expected to be immaterial to Medtronic’s fiscal 2020 adjusted earnings per share and is expected to meet Medtronic’s long-term financial metrics for acquisitions.
Jacob Paul, senior vice president and president of the Spine division, which is part of the Restorative Therapies Group at Medtronic, comments: “With today’s announcement, we bring our two companies together in order to provide best-in-class solutions for spine surgeons’ biggest challenges. The acquisition of Titan Spine builds on an exciting phase of innovation and growth at Medtronic over the last year including the acquisition of Mazor Robotics, the launch of Mazor X Stealth Edition, and the launch of the Infinity Spinal System, cementing our leadership and offering customers the most comprehensive portfolio in the Spine industry.”