Carlsbad, California-based Alphatec Holdings, Inc. (ATEC) and Paris, France-based EOS imaging, S.A. have entered into an agreement for ATEC to purchase the common shares and outstanding convertible bonds (OCEANEs) of EOS imaging.
EOS imaging is an orthopedic medical imaging company. According to its website, it “provides innovative, low dose 2D/3D imaging and software solutions.” In 2012, it became a publicly traded company on Euronext Paris.
EOS imaging systems were first installed in Europe and North America in 2008 and now 400 systems have been installed across the globe. EOS imaging’s imaging solutions include the EOSedge and the EOS system. Its orthopedic solutions include 3D modeling, 3D surgical planning tools, and operating room integration.
ATEC is the parent company of Alphatec Spine, Inc. and SafeOp Surgical, Inc. It is a medical device company focused on “revolutionizing the approach to spine surgery through clinical distinction.”
The offer includes 15,815,971 shares and 2,312,074 OCEANEs of EOS imaging. Additionally, ATEC acquired on the market “7,940,090 common shares and 174,061 outstanding convertible bonds of EOS imaging.
This means that ATEC now holds 23,756,061 EOS imaging common shares, representing “89.1% of the common shares and voting rights” of EOS imaging. Furthermore, ATEC will hold 2,486,135 EOS imaging outstanding convertible bonds. This represents “57.2% of the outstanding convertible bonds issued and outstanding.”
Readers may be confused by the announcement given the on-again, off-again purchase relationship between the two companies. Early last year, ATEC entered into an agreement to acquire EOS imaging. The transaction was expected to close in the third quarter of 2020. However, ATEC later called off the acquisition due to the ongoing market effects of the COVID-19 pandemic.
For OTW’s initial coverage of the acquisition and its termination see, “ATEC Calls Off EOS imaging Acquisition” and “ATEC to Acquire EOS Imaging for Nearly $122 Million.”
