AMEDICA ANNOUNCES CLOSING OF THE SALE OF ITS SPINE BUSINESS TO CTL MEDICAL
AMEDICA CORP COMMON STOCK (AMDA)
US:NASDAQ Investor Relations:
investors.amedica.com
Company Research
Source: GlobeNewswire
SALT LAKE CITY, Oct. 03, 2018 (GLOBE NEWSWIRE) -- Amedica Corporation (NASDAQ: AMDA) today announced that it has completed the previously-announced sale of its spine business to CTL Medical, a Dallas, TX-based privately held medical device manufacturer, on October 1, 2018, all as more fully described below. As previously announced, Amedica and CTL Medical entered in an asset purchase agreement, dated September 5, 2018, whereby CTL Medical agreed to acquire all of Amedica’s commercial spine business for total consideration of up to $10 million. As a result of the closing, CTL Medical is now the exclusive owner of Amedica’s portfolio of metal and silicon nitride spine products, which are presently sold under the brand names of Taurus, Preference, and Valeo, with access to future silicon nitride spine technologies. Manufacturing, R&D, and all intellectual property related to the core biomaterial technology of silicon nitride remains with Amedica in Salt Lake City. Amedica will serve
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