Xtant Medical Wins Auction for Surgalign’s Hardware and Biologics Business

Acquisition to Enhance Xtant’s Growing Spinal Fusion Devices Portfolio

BELGRADE, Mont., July 28, 2023 (GLOBE NEWSWIRE) -- Xtant Medical Holdings, Inc. (NYSE American: XTNT), a global medical technology company focused on surgical solutions for the treatment of spinal disorders, today announced that it was the successful bidder for certain assets and liabilities related to the domestic and international biologics and spinal fixation offerings of Surgalign Holdings, Inc. Xtant’s initial bid, as set forth in the Asset Purchase Agreement, dated June 18, 2023, between Xtant and Surgalign, was the winning bid.

“We are pleased to add these attractive assets that we anticipate will contribute to our growth,” said Sean Browne, President and CEO of Xtant Medical. “Combined with the Coflex acquisition that we completed earlier this year, we are executing on our key growth drivers while scaling our business.”

Pursuant to the Asset Purchase Agreement, and pending the issuance of a Sale Order by the United States Bankruptcy Court for the Southern District of Texas, Houston Division (Bankruptcy Court), closing of the transaction is expected to occur after the Bankruptcy Court sale hearing, scheduled for August 8, 2023, but in no event later than September 1, 2023. For additional information on the Asset Purchase Agreement, please refer to Xtant’s Current Reports on Form 8-K filed with the Securities and Exchange Commission (SEC) on June 20, 2023 and July 11, 2023. For additional information on Xtant’s status as the winning bidder, please refer to Xtant’s Current Report on Form 8-K to be filed with the SEC on or around July 28, 2023.

Xtant will release its financial results for the second quarter ended June 30, 2023, before the open of the financial markets on Tuesday, August 1, 2023. The Company will host a conference call and webcast on the same day at 9:00 AM ET to review results.

About Xtant Medical Holdings, Inc.

Xtant Medical Holdings, Inc. (www.xtantmedical.com) is a global medical technology company focused on the design, development, and commercialization of a comprehensive portfolio of orthobiologics and spinal implant systems to facilitate spinal fusion in complex spine, deformity and degenerative procedures. Xtant people are dedicated and talented, operating with the highest integrity to serve our customers.