The workforce reduction trend has swept the economy recently, and unfortunately, the medtech space is not immune to layoffs. You’ve probably read about the ongoing layoffs sweeping the tech industry, media and more. For instance, Yahoo, Disney, Zoom and more all reported workforce reductions as companies across industries grapple with economic pressures. Think inflation, supply […]
Surgalign
Augmedics to acquire digital health assets from Surgalign auction
Augmedics announced today that it successfully bid for the digital health assets of Surgalign and Holo Surgical following an auction. Surgalign conducted the court-supervised marketing and sale process following its Chapter 11 bankruptcy filing in June. It conducted the auction process in accordance with bidding procedures approved by the U.S. Bankruptcy Court for the Southern […]
Surgalign receives Nasdaq delisting notice following bankruptcy filing
Surgalign (Nasdaq:SRGA) announced today that it received a delisting notice from the Nasdaq market after filing for Chapter 11 bankruptcy. Earlier this week, the company entered into an agreement to sell assets under a Chapter 11 bankruptcy. The asset purchase agreement enables Surgalign to sell substantially all U.S. hardware and biomaterial assets. It has a […]
Surgalign files Chapter 11 to sell global hardware, biologics business
Surgalign (Nasdaq:SRGA) announced today that it entered into an agreement to sell assets under a Chapter 11 bankruptcy. The asset purchase agreement enables Surgalign to sell substantially all U.S. hardware and biomaterial assets. It also intends to sell the equity interests in non-debtor entities related to the debtors’ hardware business outside the U.S. — Xtant […]
Surgalign releases HOLO AI Insights for neurovascular research
Surgalign (Nasdaq:SRGA) announced today that it released its HOLO AI Insights for use in neurovascular research. Deerfield, Illinois–based Surgalign initially launched HOLO AI Insights for spine imaging in March 2023. It enables customers, partners and clinical researchers to utilize the HOLO AI portfolio. The system features a secure, highly scalable cloud platform for the automated […]
Surgalign faces Nasdaq delisting
Surgalign (Nasdaq:SRGA) announced today that it received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market. The letter notified the company that it no longer remains in compliance with the $10 million minimum stockholders’ equity requirement for continued listing. This falls under Nasdaq Listing Rule 5450(b)(1)(A). The letter further indicated that […]
Surgalign posts mixed Q4 results amid restructuring
Surgalign (Nasdaq:SRGA) shares ticked up slightly today on mixed fourth-quarter results. Shares of SRGA rose 0.1% at $1.65 apiece in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 0.88%. The Deerfield, Illinois-based spine surgery tech company posted losses of $39 million in the […]
Surgalign sells Coflex, Cofix product lines for $17M
Surgalign (Nasdaq:SRGA) announced an agreement for Xtant Medical (NYSE:XTNT) to acquire two of its product lines for $17 million. On Feb. 28, the two companies entered into a definitive agreement whereby Xtant acquired the Coflex and Cofix product lines from Surgalign. They subsequently closed on the deal for a total consideration of $17 million. Surgalign […]
Surgalign announces 100th Cortera case
Surgalign Holdings (Nasdaq: SRGA) recently announced the 100th case completed with its recently launched Cortera spinal fixation system, Deerfield, Illinois–based Surgalign engaged in a limited market release of Cotera shortly after FDA 510(k) clearance in August. Surgalign has used the initial market release to collect clinical and design feedback on the system from a wide […]
Surgalign plans layoffs
Surgalign (Nasdaq:SRGA) today announced a board-approved corporate restructuring plan that includes layoffs. The Deerfield, Illinois–based spine surgery tech company did not disclose how many jobs may be cut amid the planned streamlining and brand and product portfolio rationalization initiatives. As of Dec. 31, 2021, Surgalign had 231 employees, including 70 outside the U.S., according to […]
Surgalign launches new family of interbody fusion devices
Surgalign (Nasdaq:SRGA) announced today that it expanded its Fortilink product portfolio with a new family of interbody fusion devices. Deerfield, Illinois-based Surgalign’s new devices feature TiPlus technology. The implants include Fortilink-A with TiPlus for anterior lumbar interbody fusion (ALIF) procedures. Additionally, the product family includes Fortilink-TC and -TS with TiPlus for posterior lumbar interbody fusion […]