Abbott to Acquire Spinal Concepts for $170 Million

In a transaction that will give the company access to another important patient area, Abbott Laboratories (Abbott Park, IL, USA) has agreed to acquire Spinal Concepts, Inc. (Austin, TX, USA) for US$170 million in cash plus additional milestone payments of up to $40 million if certain targets are met.

Spinal Concepts offers a range of medical devices such as spinal fixation products, most of which are used during spinal fusion surgical procedures. The company markets two pedicle screw options for thoracolumbar fixation, a family of cervical plates, and osteobiologic products including a bone void filler. Orthopedics is the second-largest medical device area after cardiovascular devices, and the spinal market is the fastest growing segment of orthopedic implant products. The use of minimally invasive devices and techniques in spinal surgery is an emerging trend that can improve outcomes, decrease patient discomfort, and shorten hospital stays.

"Spinal Concepts' existing and pipeline products provide us with access to another high acuity patient area and support our strategies of meeting unmet clinical needs and providing products that result in improved clinical outcomes and shortened length of hospital stay,” said Christopher B. Begley, senior vice president, hospital products, Abbot Laboratories.





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