Alphatec Holdings has signed an agreement to acquire French medical devices maker EOS imaging in a deal valued at around $122m.
The deal includes a purchase price of up to $88m, as well as a debt retirement of $33.9m.
Based in Paris, EOS imaging is involved in the development and marketing of advanced imaging and image-based solutions for musculoskeletal pathologies and orthopedic surgical care.
With rapid, low dose, biplanar full-body imaging and 3D modeling capabilities, the company provides advanced orthopedic medical imaging and software solutions.
The company’s imaging systems will offer a full-body evaluation of the patient in a standing position, enabling them to develop customised surgical plans that can be incorporated into the operating room.
Alphatec Holdings chairman and CEO Pat Miles said: “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.”
The acquisition of EOS imaging will allow Alphatec to advance its AlphaInformatiX platform
The acquisition of EOS imaging will help Alphatec to advance its AlphaInformatiX platform and other intraoperative functionalities to meet the requirements of spine surgery.
The AlphaInformatiX platform will gain capabilities in surgical planning, patient-specific implants, and intraoperative alignment reconciliation.
Subject to customary closing conditions, the deal is expected to close in the third quarter of 2020.
Cowen is serving as financial advisor to Alphatec Holdings, while Latham & Watkins is acting as legal counsel. Piper Sandler is serving as financial advisor to EOS imaging, while Gide Loyrette Nouel is serving as legal counsel.
EOS imaging CEO Mike Lobinsky said: “We are very enthusiastic about the opportunity to join the complementary strengths and know-how of EOS imaging and ATEC.
“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.”
In 2016, Globus Medical announced the acquisition of Alphatec Holdings’ international operations and distribution channels for $80m.
