RTI Surgical Announces Spin Off of Businesses into Two Independent Companies
ALACHUA, Fla., Jan. 4, 2022 /PRNewswire/ — RTI Surgical, a global private label OEM company, announced today that the company will spin off its Metals business, creating two independent companies that are focused on the needs of customers and patients in their distinct market segments. Ownership of both companies will be retained by Montagu, a leading private equity firm specialized in finding and growing businesses that make the world work.
Metals Business Introduces New Market Brand
As a result of the spin off, the Metals business, which acts as a full-service partner covering design, development, manufacturing and regulatory support of metal and polymer implants and instruments used in orthopedics, spine and cardiothoracic applications, will change its name and market brand to Resolve Surgical Technologies. The new name reflects the company’s commitment to resolve customers’ end-to-end manufacturing and product lifecycle challenges, so they are free to focus on their strategic priorities.
The current President of the Metals business, Megan Osorio, will become CEO of Resolve Surgical Technologies, focusing on meeting the growing demand for fully outsourced solutions. “Since the company was founded 30 years ago, our hallmark has been innovative product development, world-class manufacturing, rigorous quality management, and regulatory expertise. Our new brand carries this equity forward and communicates our exciting direction as an independent company,” said Osorio.
Resolve Surgical Technologies was founded in Marquette, Mich. in 1992 as Pioneer Surgical Technologies and was acquired by RTI Surgical in 2013. The company will build on its Marquette facility and workforce.
Tissues & Biologics Business to Retain RTI Surgical Name
The Tissues & Biologics business, which provides a comprehensive portfolio of tissue-based surgical implants across multiple market segments and commercial channels, will retain the RTI Surgical name. Olivier Visa, CEO, will continue to lead this company, which is based in Alachua, Fla., and has manufacturing facilities in Greenville, N.C. and Neunkirchen, Germany. “Our team is passionate about partnering with our customers to develop and deliver solutions that restore quality of life for patients while maximizing the gift of tissue donation. With RTI Surgical’s singular focus on allograft and xenograft tissue-based implants, our team will provide expanded private label solutions for customers. Our expertise includes design, development, and processing in addition to all aspects of product life cycle management, regulatory compliance and Design History File ownership,” said Visa.
RTI was the first company to offer precision-tooled bone implants and assembled technology to maximize each gift of tissue donation. The company was also the first to introduce proprietary, validated, tissue-specific sterilization processes that address the risk of donor-to-recipient disease transmission.
“This is an exciting opportunity for both businesses to pursue their growth potential as strong, independent companies,” said Adrien Sassi, Director at Montagu. “This milestone builds on our expertise in carve-outs and commitment to helping our businesses reach their full potential. We are fully committed to supporting Olivier, Megan and their teams as they build on their respective track records of innovation.”