Companion Spine LLC is now the official owner of certain non-core Coflex spinal implant assets and all outside U.S. entities of Paradigm Spine GmbH, courtesy of Xtant Medical Holdings Inc. The sale was first announced over the summer.

The purchase price was approximately $19.2 million, consisting of $11 million in cash and $8.2 million in short-term seller financing in an unsecured promissory note issued by Companion Spine. The promissory note matures on Jan. 15, 2026. Xtant intends use the net sale proceeds to reduce long-term debt and provide additional cash liquidity.

“The sale of these businesses to Companion Spine represents a significant step forward for Xtant as we enhance our focus on our core biologics business, driving innovation for surgeons and patients, and delivering sustained improvements in our financial performance,” Xtant Medical President/CEO Sean Browne stated. “Importantly, we expect that the net proceeds from this transaction—together with our anticipated cash flows generated from operations—will enable us to continue operating without the need for additional external capital. We are proud to have reached this inflection point.”

The operating contributions of these assets and entities are included in the company’s financial results through the Dec. 1 date of sale.

Xtant Medical Holdings Inc. is a global medical technology company designing, developing, and commercializing orthobiologics for the chronic and surgical wound care and sports medicine markets, as well as spinal implant systems. The company is based in Belgrade, Mont.