August 22, 2017 3:53 AM ET

Healthcare Equipment and Supplies

Company Overview of X-spine Systems, Inc.

Company Overview

X-spine Systems, Inc. is a spinal implant company that develops spinal implants and instrumentation for the treatment of spinal disease worldwide. The company offers cervical products, such as cervical plating systems, cervical allograft interbody spacers, cervical interbody spacer systems, cervical plasma coated PEEK, cervical integrated fusion systems, and cervical plates and screws; cervico-thoracic solutions, including spinal fixation systems; thoracolumbar solutions, such as interspinous fusion systems, anterior lumbar buttress plating solutions, plasma coated PEEK implants, PEEK lumbar systems, spinal facet screw systems, pedicle screw systems, lumbar integrated fusion systems, pedicle...

452 Alexandersville Road

Miamisburg, OH 45342

United States

Founded in 2003





Key Executives for X-spine Systems, Inc.

Chief Executive Officer, President and Xtant Medical Chief Scientific Officer
Age: 47
General Counsel and Compliance Officer
Vice President of Marketing & Business Development
Vice President of Engineering
Xtant Medical Vice President of Sales
Compensation as of Fiscal Year 2017.

X-spine Systems, Inc. Key Developments

Xtant Medical Holdings, Inc., X-Spine Systems, Inc. and Bacterin International, Inc. Enter into a Forbearance Agreement with Silicon Valley Bank

On April 17, 2017, Xtant Medical Holdings, Inc. and its wholly owned subsidiaries Bacterin International, Inc. X-spine Systems, Inc., an Ohio corporation, and Xtant Medical, Inc., a Delaware corporation entered into a forbearance agreement with Silicon Valley Bank. Pursuant to the Forbearance Agreement, SVB agreed to forbear from exercising its rights and remedies under the Loan and Security Agreement, dated as of May 25, 2016, as amended by a certain First Loan Modification Agreement, dated as of August 12, 2016 (as amended, the "Loan Agreement"), with respect to certain defaults from the date of the Forbearance Agreement until the earliest to occur of (a) the occurrence of any Event of Default (as defined in the Loan Agreement), (b) the failure of Borrower to promptly perform under the Forbearance Agreement when required, or (c) April 21, 2017. The defaults consisted of Borrower's failure to comply with the financial covenant that Borrower deliver an unqualified opinion from an independent certified public accounting firm on the annual financial statements of Borrower for the fiscal year ended December 31, 2016, and the incurrence of cross-defaults under other debt arrangements (all of which have been waived).

X-Spine Systems Announces Fda Clearance of Xspan™ Laminoplasty Fixation System

Xtant Medical Holdings, Inc. announced that X-spine Systems, received FDA clearance of the Xspan™ Laminoplasty Fixation System. The Xspan™ System represents the latest generation of laminoplasty fixation. Spinal laminoplasty is a surgical procedure performed to remove pressure from the spinal cord. Unlike a laminectomy, where the entire lamina is removed, only an opening or window is made on one side of the lamina to alleviate the compression of the spinal cord. The lamina is then restructured by a small plate which allows the spinal canal to increase in size without losing stability or movement in the vertebrae. This procedure can be completed at single or multiple levels. The Xspan™ Laminoplasty Fixation System is intended for use in the lower cervical and upper thoracic spine (C3-T3).

Xtant™ Medical Receives Clearance of Expanded Indication for Ilium Fixation and Deformity

Xtant Medical Holdings, Inc. announced that its wholly owned subsidiary, X-spine Systems, Inc. received FDA clearance of expanded indications to include ilium fixation as well as extended length screws for the Fortex® and the Xpress™ 2 Pedicle Screw System. The extended length screws are compatible with X-spine's current Fortex and Xpress instrument systems, offering a comprehensive pedicle screw portfolio. These dual lead, non-cannulated screws are indicated for use in posterior, non-cervical, T1-S2/Ilium pedicle spinal fixation. They are intended to provide immobilization and stabilization of spinal segments in skeletally mature patients as an adjunct to fusion in the treatment of degenerative spondylolisthesis, fracture, dislocation, scoliosis, kyphosis, spinal tumors, and failed previous fusion.

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