Specialized implant manufacturer ChoiceSpine was acquired by Altus Capital Partners, marking the firm’s second medtech acquisition in two years. Financial terms were not disclosed.
Based in Knoxville, Tennessee, and founded in 2006, ChoiceSpine works with physicians to develop minimally invasive products incorporating customized patient solutions, including cervical, thoracolumbar, interbody and lateral implants, as well as biologics kits.
“ChoiceSpine, a global medical device corporation specializing in innovative solutions for both spinal fusion hardware and biologics, demonstrates a track record of proven innovation, strong sales growth, increased distribution and the necessity of their products in the marketplace,” Altus co-founder and senior partner Gregory Greenberg said in a statement, which described how management will continue to invest in ChoiceSpine’s expansion.
“We look forward to working with Altus in further developing our offerings as well as expanding into new product verticals to continue to grow the company and provide patient solutions for the treatment of spinal disorders,” said ChoiceSpine co-founder Marty Altshuler.
Altus previously acquired MGC Diagnostics late last year, purchasing all outstanding shares of its common stock.
The St. Paul, Minnesota-based MGC develops, manufactures and markets noninvasive diagnostic kits aimed at heart and lung health, sold internationally through distributors and direct sales forces in the U.S., France and Belgium.