Fuse Medical’s (OTC: FZMD) recent purchase of Maxim Surgical was an all-stock transaction worth $3,276,488, according to a recent Securities and Exchange Commission (SEC) filing.
Maxim is a spinal fusion device company and device distributor. Closed on Aug. 1, the Maxim deal was the second acquisition in the past year for Fuse, which purchased CPM Medical Consultants in December 2017. All three companies are based in Richardson, Texas.
Fuse issued 4,311,169 restricted shares of its common stock to Maxim at an agreed-upon value of $0.76 per share, which was equal to the 30-day volume-weighted average price of the Fuse’s common stock as of three business days prior to the closing, according to the SEC filing.
Formed in April 2011, Maxim designs and manufactures spinal interbody spacers and distributes a variety of spine, sports medicine, and biologics product lines. Its portfolio of spinal implant products includes the FDA-cleared X-Treme Interbody Fusion System. Maxim’s long-term strategy is to bring more innovative spinal implant products to market for retail and wholesale distribution.
Fuse provides a broad portfolio of orthopedic implants including internal and external fixation products; upper and lower extremity plating; total joint reconstruction; soft tissue fixation and augmentation for sports medicine procedures; full spinal implants for trauma, degenerative disc disease, and deformity indications. Its biologics offerings include human allografts, substitute bone materials, and tendons, as well as regenerative tissues and fluids to augment orthopedic surgeries.
