Centinel Spine® Continues Drive to Number One Global Market Position in Total Disc Replacement through Divestment of its Spine Fusion Business to Silony Medical

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Sep 07, 2023, 10:20 ET

The transaction includes the sale of all cervical and lumbar fusion products, including the STALIF^® technology platform.
Divestment of the fusion portfolio allows Centinel Spine to exclusively focus on its prodisc^® Total Disc Replacement (TDR) business and attaining the number one global TDR market position in the near term.
Centinel Spine has achieved record worldwide revenue YTD in its prodisc TDR business as it neared $32 million in the first half of 2023, a year-over-year increase of more than 50%.

WEST CHESTER, Pa., Sept. 7, 2023 /PRNewswire/ -- Centinel Spine^®, LLC, ("the Company") a leading global medical device company addressing cervical and lumbar spinal disease by providing the most robust and clinically-proven total disc replacement (TDR) technology platform in the world (prodisc^®), today announced that it has entered into a definitive agreement to sell its global Spine Fusion product portfolio and related assets to Silony Medical (Frauenfeld, Switzerland).

The divestment of Centinel Spine's fusion business allows the Company to exclusively focus on its rapidly expanding prodisc TDR business and accomplishing its goal of being the number one global market leader in cervical and lumbar total disc replacement.

Centinel Spine's 2022 prodisc TDR revenue approached $45 million, a record for the Company, allowing it to attain the number two global cervical and lumbar TDR market position and an estimated number one market position in worldwide lumbar TDR revenue. The Company's prodisc TDR business continues to accelerate in 2023, achieving first half year-over-year prodisc TDR revenue growth of more than 50%, primarily driven by the September 2022 limited release of the new prodisc C Vivo and prodisc C SK cervical TDR system in the U.S. and strong global commercial traction for its lumbar prodisc TDR technology.

"We are proud of the progress our Centinel Spine team accomplished in building and advancing our fusion business. The STALIF^® products and expertise moving to Silony Medical will be a valuable addition to their global business," said Centinel Spine CEO Steve Murray. "Silony Medical's strong focus on the development and manufacture of fusion implants and instruments will enable their business to expand and meet its potential in a focused environment. This divestiture allows Centinel Spine to focus exclusively on total disc replacement and expand our leadership in this rapidly growing market."

"The STALIF portfolio and additional spinal fusion products Silony Medical is acquiring from Centinel Spine will be a welcome and strategic addition to our portfolio. These are proven and trusted devices with an established presence around the world. Combined with Silony's current portfolio, we extend our commitment to provide effective solutions for daily surgical practice," commented Silony Medical CEO Constantin Schoen. "In addition to technology, Silony will welcome a team of professionals from Centinel Spine whose expertise in the anterior fusion market advances patient care every day. The Silony team is committed to successful long-term relationships and we look forward to continuing to work with the established STALIF distributor and surgeon partners around the world."

The transaction includes the sale of all products within Centinel Spine's cervical and lumbar fusion portfolio—including the STALIF technology platform, which has a proven clinical history of over 30 years and over 100,000 devices implanted¹. The transaction is expected to close within 45 days. Terms were not disclosed.

¹ Data on file.

About Centinel Spine, LLC

Centinel Spine^®, LLC is a leading global medical device company addressing cervical and lumbar spinal disease by providing the most robust total disc replacement (TDR) technology platform in the world (prodisc^®). The Company's prodisc technology is the most studied and clinically-proven TDR system across the globe, validated by over 540 published papers and 240,000 implantations worldwide.

Centinel Spine continues to advance its pioneering culture and corporate mission to become a catalyst of change in the spine industry and alter the way spine surgery is perceived. The prodisc platform remains the only technology with multiple motion-preserving solutions for both cervical and lumbar anterior column reconstruction.

For more information, please visit the company's website at www.CentinelSpine.com or contact:

Centinel Spine
Varun Gandhi
Chief Financial Officer
900 Airport Road, Suite 3B
West Chester, PA 19380
Phone: 484-887-8871
Email: [email protected]

About Silony Medical International AG

Established in 2013 by the internationally renowned hospital group, Schön Clinic, in Germany, Silony Medical is a market disrupter aiming to change the status quo of how product manufacturers partner with hospital systems. Silony Spine curates and designs spinal hardware and tools that provide surgeons and hospitals with high-value product solutions that are highly compatible with enabling technologies.

For more information, please visit the company's website at www.silony-medical.com or contact:

Silony Medical International AG
Constantin Schoen
Chief Executive Officer
Bahnhofplatz 76a, 8500 Frauenfeld Switzerland
Phone: +49 711 78 25 25 21
Email: [email protected]

SOURCE Centinel Spine, LLC