Baxano, which makes minimally invasive spinal fusion surgery devices, said it would remain mum on the progress of the review "until further disclosure is deemed necessary or appropriate."
"There can be no assurance that Baxano Surgical will enter into any strategic transaction as a result of this process," according to a press release.
"We have made solid progress on the major milestones we set out to accomplish in 2014 including our new product launches, economic based clinical data and the building of our hybrid sales organization," added president & CEO Ken Reali.
Baxano merged with Trans1 back in March 2013, uniting TranS1’s reach in minimally invasive lumbar spine treatments with Baxano’s iO-Flex spinal decompression surgery system and iO-Tome precision facetectomy instrument.
"This merger will create a unique company with the vision of being a leader in providing less invasive and minimally invasive solutions for spine disorders," Reali said at the time.