Centinel Spine, LLC, (“the Company”) a leading global medical device company addressing cervical and lumbar spinal disease by providing the most robust and clinically-proven total disc replacement (TDR) technology platform in the world (prodisc), announced that it has entered into a definitive agreement to sell its global Spine Fusion product portfolio and related assets to Silony Medical (Frauenfeld, Switzerland).
The divestment of Centinel Spine’s fusion business allows the Company to exclusively focus on its rapidly expanding prodisc TDR business and accomplishing its goal of being the number one global market leader in cervical and lumbar total disc replacement.
Centinel Spine’s 2022 prodisc TDR revenue approached $45 million, a record for the Company, allowing it to attain the number two global cervical and lumbar TDR market position and an estimated number one market position in worldwide lumbar TDR revenue. The Company’s prodisc TDR business continues to accelerate in 2023, achieving first half year-over-year prodisc TDR revenue growth of more than 50%, primarily driven by the September 2022 limited release of the new prodisc C Vivo and prodisc C SK cervical TDR system in the U.S. and strong global commercial traction for its lumbar prodisc TDR technology.
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“We are proud of the progress our Centinel Spine team accomplished in building and advancing our fusion business. The STALIF products and expertise moving to Silony Medical will be a valuable addition to their global business,” said Centinel Spine CEO Steve Murray. “Silony Medical’s strong focus on the development and manufacture of fusion implants and instruments will enable their business to expand and meet its potential in a focused environment. This divestiture allows Centinel Spine to focus exclusively on total disc replacement and expand our leadership in this rapidly growing market.”
“The STALIF portfolio and additional spinal fusion products Silony Medical is acquiring from Centinel Spine will be a welcome and strategic addition to our portfolio. These are proven and trusted devices with an established presence around the world. Combined with Silony’s current portfolio, we extend our commitment to provide effective solutions for daily surgical practice,” commented Silony Medical CEO Constantin Schoen. “In addition to technology, Silony will welcome a team of professionals from Centinel Spine whose expertise in the anterior fusion market advances patient care every day. The Silony team is committed to successful long-term relationships and we look forward to continuing to work with the established STALIF distributor and surgeon partners around the world.”
SOURCE: Prnewswire