Medtronic (NYSE:MDT) said today that it closed a deal to acquire Titan Spine for an undisclosed amount.
Mequon, Wis.-based Titan Spine makes a line of titanium interbody fusion devices featuring a surfacing technology it developed to encourage the ingrowth of bone into the implants. The deal was announced May 9.
“With today’s announcement, we bring our two companies together in order to provide best-in-class solutions for spine surgeons’ biggest challenges,” spine president Jacob Paul said in prepared remarks. “The acquisition of Titan Spine builds on an exciting phase of innovation and growth at Medtronic over the last year including the acquisition of Mazor Robotics, the launch of Mazor X Stealth edition, and the launch of the Infinity spinal system, cementing our leadership and offering customers the most comprehensive portfolio in the spine industry.”
Fridley, Minn.-based Medtronic said the acquisition expands its ability to bundle interbodies, screws, rods, biologics, imaging and navigation. The deal is not expected to affect adjusted earnings per share for this fiscal year, according to the company.
