American company SeaSpine Holdings Corporation has finalized an agreement to acquire Israel medical equipment company NLT Spine, which develops implants and devices for the treatment of orthopedic problems. SeaSpine will initially pay $1 million for the acquisition, plus additional payments up to a maximum of $43 million if the Israeli company achieves commercial and regulatory targets.
Treatment worthwhile for all concerned
At present, the method for treating back pain through surgery in cases of a prolapsed disc, for example, is relatively outdated, at least in comparison with other types of surgery. As a result, most patients must undergo an invasive operation that includes a surgical incision of 10-20 centimeters. In addition to the fact that these operations are relatively risky and require long recovery times that can stretch into months, the cost can amount to several hundred thousand dollars.
NLT Spine develops a variety of products for minimally invasive spinal surgery (MISS) to treat degenerative spinal conditions. The company’s products and implants, which can be inserted through a small incision, expand and grow into their final shape only when they are already inside the patient’s body.
In essence, the company wants to offer a less invasive surgical alternative using a method similar to that employed in cardiac surgery. One of its products includes a catheter consisting of a pipe inserted into a specific area in the spinal column, through which a flexible implant is inserted. This can reduce the patient’s post-surgical discomfort, shorten their recovery time, and reduce their hospitalization costs.
Chief medical officer and spinal surgery specialist Dr. Tzony Siegel founded NLT Spine, which began in the Incentive incubator, in 2006. The company has raised capital over the years from Accelmed and Peregrine Ventures.
Commenting on the acquisition, NLT Spine CEO Didier Toubia said, “We’re pleased to add our line of products and technologies to SeaSpine’s comprehensive suite of offerings in the spine intervention market. We see SeaSpine as the ideal group to bring to market and drive adoption of our innovative interbody spine solutions, which we believe will benefit patients and our shareholders, now and in the longer-term.”