Private equity firm Altus Capital Partners has acquired US-based privately-held spinal device company ChoiceSpine for an undisclosed amount.
Based in Knoxville, Tennessee, ChoiceSpine designs, manufactures and markets spinal implants, instrumentation and biologies for surgical treatment of complex spine disorders. It was founded in 2006.
The company offers a range of surgeon-focused systems that are claimed to be safe, efficient and easy-to-use. By working with physicians, ChoiceSpine will continue to bring technically-superior spinal products to market.
Products from ChoiceSpine include minimally invasive, cervical, thoracolumbar, interbody, lateral, and biologics kits and implants that increase procedural efficiency and efficacy.
In addition, the company offers full regenerative and osteobiologics portfolio including synthetics, DBM’s, structural allograft, and amnion allografts.
Altus co-founder and senior partner Gregory Greenberg said: “We recognize the need in the medical technology space for proven spinal products that can enhance the quality of life for spinal patients.
“ChoiceSpine, a global medical device corporation specializing in innovative solutions for both spinal fusion hardware and biologics, demonstrates a track record of proven innovation, strong sales growth, increased distribution and the necessity of their products in the marketplace.”
Altus Capital stated that it will continue to invest in the expansion of ChoiceSpine.
ChoiceSpine co-founder Rick Henson said: “We have built a deep bench of talent that has led the company with an increased focus on product design and engineering which benefit so many patients experiencing spinal injuries.”
ChoiceSpine co-founder Marty Altshuler said: “We look forward to working with Altus in further developing our offerings as well as expanding into new product verticals to continue to grow the company and provide patient solutions for the treatment of spinal disorders.”
It is the third acquisition for Altus Capital in less than two years and the second in the medical technology space.
Earlier this year, the company completed the tender offer for all of the outstanding shares of common stock of MGC Diagnostics, a medical technology company dedicated to cardiorespiratory health solutions, for a price of $11.03 per share.
MGC develops and manufactures non-invasive diagnostic systems for disease detection, integrated care, and wellness across the spectrum of cardiorespiratory healthcare and are sold internationally through distributors and, in the United States, France and Belgium.