Centinel Spine closes buyout of DePuy Synthes Prodisc assets

Centinel Spine said last week that it closed its acquisition of Johnson & Johnson (NYSE:JNJ) subsidiary DePuy Synthes’ Prodisc assets for an undisclosed amount.

The deal covers DePuy’s Prodisc-C, Prodisc-L, Prodisc-C Vivo, Prodisc-C Nova, Prodisc-O and Discover cervical and lumbar artificial disc systems. The Prodisc-C and Prodisc-L are the only two products which have approval in the U.S. Centinel plans to launch clinical studies as it pursues FDA approval of the other devices it acquired. The buyout leaves DePuy Synthes with only the Inmotion lumbar disc.

“This transaction is the next step in the evolution of Centinel Spine executing on its mission to become the worldwide leading company addressing spinal disease through anterior access to the spine with the widest breadth and depth of technology platforms,” Centinel chairman & CEO John Viscogliosi said in prepared remarks.

The deal was funded with debt and equity; Piper Jaffray was Centinel’s placement agent, the company said.

Last June, Centinel Spine said it won Australian Therapeutic Goods Administration clearance for its Stalif L no-profile lateral lumbar integrated interbody system.