SpineGuard to sell US subsidiary to Omnia Medical
BOULDER — French medical-device company SpineGuard has inked a deal to offload its Boulder-based U.S. subsidiary SpineGuard Inc. to West Virginia-headquartered Omnia Medical LLC.
“The two companies have agreed today on the main terms of this transfer with the signing of a binding term sheet including on the one hand the purchase in cash by Omnia Medical of the inventory of SpineGuard Inc., and on the other hand the transfer of the SpineGuard Inc. legal entity paid in Omnia Medical shares,” the companies said in a news release.
Specific financial terms of the deal were not disclosed.
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“I am thrilled about the new agreement we have just signed with our strategic partner Omnia Medical, which is a major step forward in the implementation of our common roadmap. The integration of our US subsidiary into Omnia Medical will significantly improve the competitiveness of our (medical-device) technology in the United States,” SpineGuard CEO Pierre Jérôme said in the release. “Our very encouraging experience in sacroiliac fusion and the increasing demand for procedural solutions compelled us to undertake this transfer. In concrete terms, all our PediGuard devices will now be part of Omnia Medical’s implant offering in a wide variety of clinical indications and spine treatment procedures, in surgical and interventional spine, in hospitals or ambulatory surgery centers.”
French medical-device company SpineGuard has inked a deal to offload its Boulder-based U.S. subsidiary SpineGuard Inc. to West Virginia-headquartered Omnia Medical LLC.
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