Surgalign Adds Medical Device Prototyping and Manufacturing Facility in San Diego
World-Class Machine Shop Broadens and Deepens Capabilities in Spine and Digital Surgery
DEERFIELD, Ill., May 06, 2021 (GLOBE NEWSWIRE) -- Surgalign Spine Technologies, (NASDAQ: SRGA) a global medical technology company focused on elevating the standard of care through the evolution of digital surgery, today announced it has acquired the assets of a fully capable medical device machine shop as a complement to its Spine Innovation Center operations in greater San Diego. The current staff of the facility will join Surgalign as employees. This acquisition gives the company the ability to directly align its research and development operations with a state-of-the-art prototyping and manufacturing capability to accelerate and broaden new product development.
“We strongly believe this acquisition will lead to shortened development times and superior products to better serve our customers,” said Terry Rich, Surgalign’s president and chief executive officer. “Being able to prototype new devices in-house gives us better control of quality and should certainly strengthen our product development engine, including our efforts to advance the promise of digital surgery and all it could bring to spine care. Adding this capability is another example of the significant investment we are making to build a world-class digital surgery operation in San Diego.”
The synergies from the acquisition will be recognized immediately between both teams, accelerating Surgalign’s New Product Introduction Process, and further solidifying the company’s commitment to bringing customers solutions that deliver superior clinical and economic outcomes.
About Surgalign Holdings, Inc.
Surgalign Holdings, Inc. is a global medical technology company committed to the promise of digital surgery and is building out its digital surgery platform to drive transformation across the surgical landscape. Uniquely aligned and resourced to advance the standard of care, the company is building technologies surgeons will look to for what is truly possible for their patients. Surgalign is focused on bringing surgeons solutions that predictably deliver superior clinical and economic outcomes.
Surgalign markets products throughout the United States and in more than 50 countries worldwide through an expanding network of top independent distributors. Surgalign, a member of AdvaMed, is headquartered in Deerfield, IL, with commercial, innovation and design centers in San Diego, CA, Marquette, MI, and Wurmlingen, Germany. Learn more at www.surgalign.com and connect on LinkedIn and Twitter.
Forward Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s current expectations, estimates and projections about our industry, our management's beliefs and certain assumptions made by our management. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to risks and uncertainties, including the risks described in public filings with the U.S. Securities and Exchange Commission (SEC). Our actual results may differ materially from the anticipated results reflected in these forward-looking statements. Copies of the company's SEC filings may be obtained by contacting the company or the SEC or by visiting Surgalign's website at www.surgalign.com or the SEC's website at www.sec.gov.
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Released May 6, 2021