Surgalign to sell medical hardware business

DEERFIELD - Surgalign Holdings Inc. said Tuesday to sell substantially all of its U.S. medical hardware and biomaterials assets to Xtant Medical Holdings Inc. for $5 million.

The asset purchase agreement, part of Surgalign's chapter 11 bankruptcy proceedings, also includes the company's equity interests in entities related to its hardware business outside of the U.S.

Surgalign said it has filed a series of motions with the bankruptcy court seeking to ensure the continuation of normal operations during this process. The company believes it has sufficient liquidity to conduct its businesses in an uninterrupted manner and fund the chapter 11 proceedings, including the sale of its assets.

Surgalign is a global medical technology company focused on elevating care by driving the evolution of digital health systems.