Medical Tech Firm Surgalign Seeks Sale Through Bankruptcy

Surgalign Holdings Inc. and seven affiliates have filed for bankruptcy in the Southern District of Texas, with plans to sell assets through the process, according to court papers.

• The US medical technology firm has lined up Xtant Medical Holdings as a stalking horse bidder
• Meanwhile, Prompt Protypes is lined up as a buyer for Surgalign Spine Technologies
• Equity interests of the company’s non-US hardware subsidiaries that aren’t sold or part of sale agreements could be dissolved
• As part of a restructuring plan, the company has been removing underperforming products from its portfolio and cut roughly 20% of its employee count ...