RTI Surgical Inc. has signed an agreement to acquire Zyga Technology Inc., with closing subject to filing with the state of Delaware. Zyga Technology is a spine-focused medical device company that develops and produces minimally invasive devices to treat underserved conditions of the lumbar spine. Zyga Technology’s primary product is the SImmetry Sacroiliac Joint Fusion System.
“Acquiring Zyga Technology further advances our strategic transformation focused on reducing complexity, driving operational excellence and accelerating growth,” CEO Camille Farhat said. “We are increasing our focus on both internal development and external investment, and acquiring Zyga Technology’s innovative minimally invasive treatment both accentuates our robust spine portfolio and opens significant opportunities to accelerate growth.”
Zyga Technology is a private company with approximately 30 employees and approximately $4 million in annual revenue. Upon closing, RTI Surgical will fund the acquisition through a combination of cash and borrowing under its existing credit facility. Terms of the deal were not disclosed.