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Medtronic completes acquisition of Titan Spine
Medtronic plc announced that it has fully acquired the titanium spine interbody implant and surface technology company, Titan Spine.
"With today's announcement, we bring our two companies together in order to provide best-in-class solutions for spine surgeons' biggest challenges," Jacob Paul, senior vice president and president of the spine division at Medtronic, said.
As part of Medtronic’s spine division, this acquisition provides opportunities to bundle interbodies, screws, rods, biologics and enabling technologies like imaging and navigation to develop integrated procedural solutions.
The two companies reached a definitive acquisition agreement on May 9, 2019. With the acquisition now complete it’s expected to meet Medtronic's long-term financial metrics for acquisitions and be immaterial to Medtronic's fiscal 2020 adjusted earnings per share.
"The acquisition of Titan Spine builds on an exciting phase of innovation and growth at Medtronic over the last year including the acquisition of Mazor Robotics, the launch of Mazor X Stealth Edition, and the launch of the Infinity Spinal System, cementing our leadership and offering customers the most comprehensive portfolio in the Spine industry," Paul said.
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