Both companies’ boards have approved the acquisition, the terms of which were not disclosed. Medtronic would acquire all of Titan Spine’s products to enhance its line of spinal surgical procedural solutions.
Titan Spine makes interbody titanium spinal fusion devices with a proprietary nanoLOCK surface that encourages bone growth. Launched in 2006, the company has since created a sea change in its industry vertical. From 2008 to 2018, Titan Spine grew at a rate of more than 40 percent per year. More than 70,000 of its devices were implanted, it had more than 50 patents and the company had grown to $63 million in revenue as of 2018. BizTimes chronicled the company’s growth and its plans for a potential acquisition or public offering in a 2018 cover story.
With more than 86,000 employees and customers in more than 150 countries, Medtronic is one of the largest medical technology, services and solutions companies in the world. Read the full story here.