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RTI Surgical will spin off its Metals business, creating two independent companies. Ownership of both entities will be retained by Montagu, the private equity firm that purchased RTI’s OEM-focused business in 2020.
As surgical implant suppliers, both businesses partner with medical technology companies to design and develop medical devices. The spin off will reinforce market focus for both the Metals and Tissue & Biologics businesses and better position each company to capitalize on strategic growth opportunities as the need for outsourced private label medical device manufacturing and product life cycle management increases.
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 other applications, will change its name and brand to Resolve Surgical Technologies. Megan Osorio, current President of Metals, will become CEO of Resolve Surgical Technologies.
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.
The Tissues & Biologics business, which provides a 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.
Source: RTI Surgical
