Spinal Concepts - 2003 Fierce 15 revisited
Spinal Concepts
Austin, Texas
Founded: 1996
Why we said: One of the few independent developers of fixation devices for the fast growing spinal fusion market, Spinal Concepts had a strong intellectual property position with 39 patents in the U.S. and 22 international patents. With former Deputy President Jeffrey Binder leading the company, it was only a matter of time before this company would be snatched up by larger competitor.
What happened: The medical device company was acquired in 2003 by Abbott Laboratories for a hefty $170 million and a promised $40 million for additional milestones.
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