Surgalign reached a market cap of $180M in May 2019. They posted $117M in gross sales in 2019. Four years later, Xtant purchases their hardware assets for $5M, so they can focus on software.
Surgalign must find a way to survive with their new Holo AI Technology.
Holo has little sales so far, but represents a huge asset to Surgalign because its is the only FDA approved AI/AR spine technology in the world. It's early. It does not mean much yet, but "first mover advantage" can be huge in spine.
Ever if Surgalign cannot make a viable business with HOLO, acquirers will line up to purchase the HOLO tech and FDA clearances.
Will this pivot work ?
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Read also - Warning: the Ortho Tightening is Beginning.
Surgalign Enters Into Definitive Agreement to Sell Global Hardware and Biologics Business Through a Structured Sale Process Under Chapter 11 of the U.S. Bankruptcy Code (press release)
Surgalign Holdings, Inc., (NASDAQ: SRGA) (“Surgalign” or the “Company”) a global medical technology company focused on elevating...
