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Medtronic, a market leader in medical technology and equipment, reported that they will be acquiring Titan Spine, Inc, a titanium spine interbody implant and surface technology company. This deal has been approved by both of the boards of directors from both companies, but the financial details have not yet been released. It is expected to close during Medtronic’s first fiscal quarter ending July 26th, 2019, assuming all regulatory clearances and conditions have been approved.
Today, there is a growing demand for titanium interbody devices from surgeons; the implant material and dimensions are said to have a part in bone growth process during fusions. Interbody implants act as spacers, and hold vertebrae in place while spinal fusion surgery is performed.
“We’ve built the broadest Spine portfolio – implants, instruments, enabling technologies, and biologics – in order to provide complete procedural solutions for surgeons’ biggest challenges,” said Jacob Paul, senior vice president and president of the Spine division, which is part of the Restorative Therapies Group at Medtronic. “Titan Spine has pioneered the spine implant surface technology category over the past several years. We feel that surface-enhanced titanium implants combined with our comprehensive biologics portfolio can have a positive impact on patient outcomes in spinal procedures.”
This acquisition builds Medtronic’s industry position as a leading medical innovator in solutions for spinal operations. By assuming their product line, Medtronic will receive Titan Spine’s comprehensive portfolio, including a complete line of surface-enhanced, titanium interbody fusion devices.
Titan Spine, based in Mequon, Wisconsin, is an international surface technology company specializing in the design and manufacturing of interbody spinal fusion devices. They market an extensive array of endoskeleton interbody devices featuring their proprietary textured surface.
According to research from iData Research, growth is expected in this market segment, as the patient demographics in the U.S. maintain a steady demand for such procedures. Growth has slowed in the last few years as newer, minimally invasive innovations gradually cannibalized the traditional spine market. The biggest limiting factor for the spinal fusion markets is the development of motion preservation technology. One of the key drivers for the interbody fusion market is the increase in the target population, which is composed of aging baby boomers. The overall interbody device market is expected to increase to over $1.4 billion by 2023.
“Titan Spine is thrilled to enter into a definitive agreement with Medtronic, who have long been the leading organization within the spine industry,” said Peter Ullrich, M.D., CEO of Titan Spine. “Combining Titan Spine’s groundbreaking nanoLock® surface technology with Medtronic’s commercial strength will make a dramatic impact on the spine market, particularly for the improvement of patient outcomes.”
For Further Information
More on the spinal implants and vertebral compression fracture market in the US can be found in a report published by iData Research entitled U.S. Market Report Suite for Spinal Implants and Vertebral Compression Fracture