Centinel Spine announced that it entered into a definitive agreement to sell its global spine fusion product portfolio to Silony Medical.
The companies expect the transaction to close within 45 days. The companies declined to disclose the terms of the divestiture of the portfolio and related assets.
West Chester, Pennsylvania–based Centinel Spine says the sale enables it to focus exclusively on its Prodisc total disc replacement (TDR) platform. The company aims to become the global market leader in cervical and lumbar total disc replacement. Its 2022 Prodisc revenue neared $45 million, taking the company to the second spot in the global market, it said.
Centinel Spine reports first-half, year-over-year Prodisc revenue growth of more than 50% in 2023. It attributed some growth to the September launch of the Prodisc C Vivo and Prodisc C SK systems. The divestiture sees Centinel Spine’s Stalif products move to Silony.
“This divestiture allows Centinel Spine to focus exclusively on total disc replacement and expand our leadership in this rapidly growing market,” said CEO Steve Murray.
Constantin Schoen, CEO of Switzerland-based Silony Medical, called the portfolio “a welcome and strategic” addition.
“These are proven and trusted devices with an established presence around the world,” Schoen said. “Combined with Silony’s current portfolio, we extend our commitment to provide effective solutions for daily surgical practice.”
Schoen added that Silony now welcomes a team of professionals from Centinel Spine to further advance the Stalif portfolio.