Surgalign sells product line for $17 million

DEERFIELD — Medical technology company Surgalign Holdings Inc. said Wednesday it has sold its Coflex and Cofix product lines for $17 million.

Coflex is an interlaminar stabilization device offering a non-fusion treatment option for lumbar spinal stenosis (LSS) patients. The product line was purchased by Xtant Medical Holdings Inc. in Belgrade, Montana, the company said.

The number of patients diagnosed globally with LSS is approximately 2.4 million, representing the largest single-growing patient demographic in spine abnormalities, Surgalign said. The Coflex device is the only FDA PMA-approved implant for the treatment of LSS. It has been implanted in more than 200,000 patients in over 60 countries, the company said.

“We believe that Coflex and Cofix are great products for patients and with Xtant, we have found the right partner that will continue the legacy and drive value for all customers,” said Terry Rich, president and chief executive officer of Surgalign. He said the sale provides Surgalign with capital that will be used to advance its platform of artificial intelligence products across the entire continuum of care.