Eighteen months ago we covered the news that Baxano, Inc was to be acquired by spinal company TranS1, the result being the emergence of the Baxano Surgical, Inc. entity. Now that company has embarked on the task of reviewing its strategic alternatives, with the public announcement of its engagement of financial advisor Houlihan Lokey to drive the project.
Baxano Surgical is a medical device company focused on designing, developing and marketing minimally invasive products to treat degenerative conditions of the lumbar spine. Although its most recent financial figures show a continued loss, this has been significantly reduced from previous quarters as sales revenues have steadily climbed.
Quite what strategic alternatives are likely to land on Baxano’s table is unclear, although the speculation is that such a public advertisement of its plans probably means it’s up for sale, armed as it is with an improving commercial position.
“We have made solid progress on the major milestones we set out to accomplish in 2014 including our new product launches, economic based clinical data and the building of our hybrid sales organization,” stated Ken Reali, President and CEO of Baxano Surgical.
Source: Baxano Surgical, Inc., Globe Newswire