The merger will expand TranS1’s reach in minimally invasive lumbar spine treatments with Baxano’s iO-Flex spinal decompression surgery system and iO-Tome precision facetectomy instrument.
The merger includes about $550,000 in cash as well as 10.4 million shares of TranS1 common stock, according to a press release.
"We believe that Baxano is a complementary strategic fit for our product portfolio," TranS1 president & CEO Ken Reali said in prepared remarks. "Minimally invasive treatments are the fastest growing segment of the spine market."
"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 added.
Baxano reported $9.4 million in sales during the fiscal year ended Dec. 31, 2012.
Leveraging technology to overcome medical errors
Preventable medical errors claim thousands of lives in hospitals each year, but healthcare providers are confident that health information technology can help overcome some of the communications failures that can lead to health errors.
Digital health records: Patient review versus patient access
A survey of more than 3,700 physicians finds that most believe patients should help maintain and update their electronic health records, but only about 31% believe patients should have access to their full records.
Give us more apps, says Boston Children’s Hospital
Although there are a slate of new health-related apps available to consumers, only about 1 in 5 are designed for clinical use, spurring Boston Children’s Hospital chief innovation officer Naomi Fried to tell her Twitter followers that "we need more #hospital apps."