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LEWISVILLE’S ORTHOFIX ACQUIRES SPINAL KINETICS FOR $105M

Orthofix Inc., the Lewisville-based global medical device company, has acquired Spinal Kinetics in a deal valued at $105 million.

Spinal Kinetics, based in Sunnyvale, California, develops motion preservation systems for the treatment of degenerative spine diseases in partnership with spine surgeons.

The deal’s terms include $45 million in cash closing consideration, plus up to $60 million in contingent milestone payments related to U.S. Food and Drug Administration approval of Spinal Kinetics’ M6-C cervical disc and achieving 12-month sales targets of $30 million and $50 million, according to a release.

“This acquisition is very well aligned with our value creation strategy of accelerating topline growth by investing in faster growing market segments in our core businesses,” said Orthofix President and CEO Brad Mason. “In addition, we expect this news will energize our sales force and be attractive to potential new sales talent.” 

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