In Utah, Amedica Corporation, a biomaterials and OEM company, completed the sale of its spine business to CTL Medical, a Dallas, TX-based privately held medical device manufacturer. Amedica and CTL Medical entered in an asset purchase agreement, whereby CTL Medical agreed to acquire all of Amedica’s commercial spine business for total consideration of up to $10 million. As a result of the closing, CTL Medical is now the exclusive owner of Amedica’s portfolio of metal and silicon nitride spine products, which are presently sold under the brand names of Taurus, Preference, and Valeo, with access to future silicon nitride spine technologies. Manufacturing, R&D, and all intellectual property related to the core biomaterial technology of silicon nitride remains with Amedica in Salt Lake City. Amedica will serve as CTL’s exclusive OEM provider of silicon nitride products.
“Amedica is now free of the considerable costs and complexity attendant to retail spine sales, allowing the company to focus on the core biomaterials and OEM business instead. We will fully support CTL spine sales in terms of clinical and basic science, surgeon education, and any other necessary sales support. Most importantly, as a debt-free company, Amedica can now focus on revenue opportunities outside of spine where our R&D program is particularly strong, such as in the dental and arthroplasty markets,” said Dr. Sonny Bal, Chairman of the Board at Amedica Corporation.