Israeli NLT Spine acquired by SeaSpine for $43 million
US based SeaSpine Holdings Corporation has finalized an agreement to acquire Israeli NLT Spine. NLT Spine specializes in the development of innovative spine surgery instrumentation and implants for treating degenerative spinal conditions through small surgical incisions. NLT Spine offers a less invasive surgical alternative using a method similar to that employed in cardiac surgery. One of its products includes a catheter consisting of a pipe inserted into a specific area in the spinal column, through which a flexible implant is inserted. This can reduce the patient’s post-surgical discomfort, shorten their recovery time, and reduce their hospitalization costs.
Seaspine holdings says expects to pay in 2016 up to $1.7 million for acquisition considerations, transaction costs and transition services fees The terms include an upfront cash payment, issuance of common stock upon achievement of a near-term regulatory milestone. they also include longer-term commercially-based milestone payments, as well as future revenue-based royalties.
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