Bordeaux, France-based Implanet, a medical technology company specializing in orthopedic surgical implants, has finalized an agreement to acquire Avignon, France-based Orthopaedic & Spine Development (OSD), a company focused on implants for spine surgery.
The acquisition was driven in part by the companies’ complementary range of spinal surgery implants. Implanet believes that the acquisition will enable it to “become a heavyweight on the spine surgery market in France and globally, and the independent leader in surgical band implants.”
OSD CEO and President Nicolas Papillon discussed this synergy, commenting in part, “Regarding the product lines, specifically the implants for spinal surgery, OSD offers a range of implants for spinal, cervical, and lumbar fusions. Implanet offers its sublaminar bands Jazz platform. Both types of products are used on the same type of surgery and will allow surgeons to access to a wider therapeutic arsenal.”
The acquisition, which is subject to shareholder approval, will be financed through a convertible bond line with Nice & Green SA for a maximum of €5 million. For the acquisition, OSD shares have a valuation of €4.275 million.
Implanet CEO Ludovic Lastennet commented on the acquisition, “The external growth operation with OSD is an additional achievement in line with the strategy we [OSD] implemented in 2019, but which was unfortunately delayed by the COVID crisis in 2020.”
Lastennet continued, “This operation is a very structuring operation for Implanet. First of all, it’s an acquisition by Implanet of 100% of OSD’s capital. The integration of OSD’s activities will enable us, in the short term, to reach a critical mass for our revenues in order to keep developing new and innovative products, which is the essence of companies like Implanet, and above all, to face the upcoming regulatory challenge in a serene and sustainable way and of course, the MDR (Medical Device Regulation) deadline in 2024.”
