VertiFlex®, Inc. Announces Sale of Certain Non-Core Spinal Implant Technologies to Stryker (EON)
SAN CLEMENTE, Calif.--(BUSINESS WIRE)--VertiFlex®, Inc., a leading innovator of advanced minimally invasive spinal surgery technologies, today announced the sale of certain assets to Stryker Corporation’s Spine Division relating to spinal implants that are not core to the ongoing strategic operations of the company. The scale and scope of the deal are not disclosed, however, the transaction provides VertiFlex with significant non-dilutive funding to further advance its platform for minimally invasive treatment of spinal stenosis.
“The sale of these innovative assets to Stryker represents the beginning of a new era in our relationships with strategic partners”
“The sale of these innovative assets to Stryker represents the beginning of a new era in our relationships with strategic partners,” said Earl R. Fender, President and Chief Executive Officer of VertiFlex, Inc. “The agreement with Stryker includes up-front cash, contingent payments as well as a long-term licensing agreement. I’m very proud of the VertiFlex team. In addition to enrolling the largest ever FDA PMA trial of a device ...
