Orthofix’s merger with SeaSpine brings together two companies focused on spinal and orthopedic devices.Paul O'DonnellLewisville-based Orthofix will merge with a California firm to form a medical device maker with combined revenue of nearly $700 million and products distributed in 68 countries.
SeaSpine CEO Keith Valentine said in a statement that the deal creates “an industry leader with the immediate financial strength to self-fund investments that deliver both growth and better patient outcomes.” The companies said they expect the combined firm to top $1 billion in revenue within three years.
International expansion also is an opportunity after the combination through Orthofix’s established research, development and manufacturing footprint globally, Valentine said. SeaSpine has been a U.S. company. Both companies focus on spine and orthopedics technology, partnering with surgeons treating patients for spinal disorders and injuries. They also produce bone-healing therapies, spinal implants and orthopedic devices.
The Orthofix-SeaSpine merger will create a combined company with nearly $700 million in revenue. Numbers shown are for the 12 months that ended Sept. 30.Orthofix’s sales have been flat this year, totaling $339 million through Sept. 30. Its full-year revenue last year was $464 million. In August, SeaSpine said it expects to post double-digit growth this year, with revenue coming in around $235 million.
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