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Medical device company Alphatec Holdings (ATEC) has signed an agreement to acquire Paris-based EOS imaging.
Medical device company Alphatec Holdings (ATEC) has signed an agreement to acquire Paris-based EOS imaging.
The deal, a combination of cash and equity, includes a purchase price of up to $88m and debt retirement of $33.9m.
EOS designs orthopaedic medical imaging and software solutions. The company is known for its low dose, biplanar full-body imaging and 3D modelling capabilities.
EOS’ product portfolio includes spineEOS, an online 3D planning software for spine surgery approved by US Food and Drug Administration (FDA).
ATEC chairman and CEO Pat Miles said: “This is a monumental transaction for ATEC. While spine’s large players are investing in enabling technologies, we are thinking differently. We created a conduit to deliver information into the operating room with AlphaInformatiX.
“This transaction will integrate spine imaging and anatomical modelling onto the platform to actually inform the operative experience. By pairing ATEC’s approach-based solutions with imaging founded on Nobel Prize-winning technology, we expect to significantly increase demand for ATEC hardware and EOS systems and create a formidable competitive advantage.”
With the addition of EOS imaging, ATEC’s AlphaInformatiX platform’s delivering capabilities will boost in patient-specific implants, surgical planning, intraoperative alignment reconciliation, and other intraoperative functionalities.
The transaction is expected to be accretive to ATEC’s revenue growth, as well as create cross-selling opportunities due to the expanded customer base and sales network.
Under the agreement, EOS’s shareholders will receive approximately $3.08 per EOS share under the cash offer or 0.50 ATEC common shares per the EOS share under the exchange offer.
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