Spinal implant manufacturer Alphatec Holdings, Inc. (ATEC) has entered into an agreement to acquire EOS imaging, SA, for a purchase price of up to $88 million, plus $33.9 million retirement of debt, in a combination of cash and equity. The transaction is expected to close in the third quarter of 2020.
EOS imaging is an orthopedic medical imaging company based in Paris, France. EOS systems are full body skeletal imaging systems able to generate 3D images and data. EOS imaging has gone through a period of expansion since becoming a publicly traded company on Euronext Paris (EOSI) in 2012. EOS systems are now available in 51 countries including the United States, Japan, and China.
EOS imaging Chief Executive Officer Mike Lobinsky commented on the acquisition, “We are very enthusiastic about the opportunity to join the complementary strengths and know-how of EOS imaging and ATEC.”
Lobinsky continued, “I have no doubt that our organizations will be able to quickly create a highly differentiated end-to-end offering that will accelerate growth in the U.S. in the short term, while we continue to expand internationally, paving the way for the future global growth of the combined entity.”
Based in Carlsbad, California, Alphatec Holdings, Inc. is a medical technology company focused on spinal fusion. Through its subsidiary, Alphatec Spine, Inc., it creates products for the surgical treatment of spine disorders.
ATEC Chairman and Chief Executive Officer Pat Miles said of the acquisition, “This is a monumental transaction for ATEC.” Miles continued, “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 modeling 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.”
The transaction will take place through ATEC’s tender offer for all of the issued and outstanding shares and convertible notes of EOS imaging for a price of EUR 2.80 per EOS share, or an exchange tender offer where each EOS shareholder will receive 0.50 ATEC common shares per EOS share. The Boards of Directors of both ATEC and EOS have approved the offer.
What’s the OEM, model number, cost? Ca in-house biomed/imaging engineers be trained to service? Full service contract cost with and without tube and detector?