The largest supplier of spinal implants, instruments, robotic assist devices, imaging systems and related biologics, Medtronic plc, has announced its intention to acquire Titan Spine, Inc. a private spine technology company that specializes in titanium spine interbody implants and surface technologies. The transaction was approved unanimously by members of both companies’ boards of directors.
The price paid for Titan was not disclosed.
Medtronic’s Spine Portfolio
Medtronic’s spine business is currently part of Medtronic’s Restorative Therapies Group, along with Brain Therapies, Pain Therapies, and Specialty Therapies.
Jacob Paul, senior vice president and president of the Spine Division of Medtronic Restorative Therapies Group said, “We’ve built the broadest spine portfolio—implants, instruments, enabling technologies, and biologics- in order to provide complete procedural solutions for surgeons’ biggest challenges.” Medtronic’s robust spinal and orthopedic product portfolio includes:
- Balloon Kyphoplasty
- Bone Grafting
- Drug Infusion Systems for Chronic Pain
- Drug Infusion Systems for Severe Spasticity
- Electrosurgical Products
- High-Speed Surgical Drills & Tools
- Nucleus Removal Tools
- Posterior Occipitocervical Upper-Thoracic Reconstructive Systems
- Radiofrequency Ablation System for Bone Tumors
- Spinal Cord Neurostimulation Systems
- SpineLine Reimbursement
- Sports Surgery
- Surgical Imaging Systems
- Surgical Navigation Systems
- Tumor Management
- Vertebroplasty
This year, Medtronic ranked number one in the Forbes healthcare category and number 150 on the Forbes Global 2000 list. The 2019 Forbes Global 2000 list analyzed financial results for the 12-month period ending on April 18, 2019. During that time period, Medtronic recorded $30.1 billion in sales, $4.9 billion in profit, and $113 billion in market value. Debbie Wang, a senior equity analyst at Morningstar, Inc., told Forbes, “Medtronic’s broad portfolio offers the benefit of having waxing product cycles offset other waning product cycles.”
