Medtronic completed its acquisition of Titan Spine, a private company focused on titanium spinal implants and surface technology.
Five things to know:
1. The companies announced plans to merge on May 9. Since then, the transaction cleared regulatory hurdles and is expected to be immaterial to Medtronic's fiscal year 2020 adjusted earnings per share.
2. Titan Spine complements Medtronic's spine technology portfolio. Medtronic will now be able to bundle interbodies, screws, rods, biologics and enabling technologies — which includes robotics and navigation — for an overall integrated spine solution.
3. Over the last year, Medtronic finalized the acquisition of Mazor and launched the Mazor X Stealth Edition. The company also launched the Infinity Spinal System, to further round out its portfolio.
4. Titan Spine's nanoLOCK platform includes interbody implants designed for bone growth during fusion. Its technology will join Medtronic's spine division within the Restorative Therapies Group.
5. Financial terms of the agreement were not disclosed.