RTI Surgical Announces Agreement to Acquire Collagen Solutions
- Further expands RTI’s soft tissue portfolio of xenograft and allograft materials at scale
- Improves access to high-growth cardiac, sports medicine and orthopedic clinical markets
- Enables accelerated development of innovative biomaterials for existing and new OEM customers
ALACHUA, Fla., October 7, 2024, RTI Surgical ("RTI" or "the Company"), a leading CDMO pushing the boundaries of innovation and tissue engineering to meet patient needs in regenerative medicine, announced today that it has entered into an agreement to acquire Collagen Solutions, a premier global supplier of engineered medical-grade collagen and xenograft tissue with applications in cardiac, sports medicine and orthopedics.
The acquisition further expands RTI’s uniquely comprehensive portfolio of allograft and xenograft biomaterials at scale, and follows the Company’s acquisition of Cook Biotech earlier in the year. RTI’s broad product portfolio enables it to partner with customers and surgeons to develop innovative solutions that are focused on improving patient outcomes.
Key highlights of the acquisition include:
- Expansion of RTI’s soft tissue portfolio with Collagen Solutions’ expertise in bovine and porcine collagen materials
- Increased access to high-growth therapeutic areas such as cardiac, sports medicine, orthopedic surgery, and plastic and reconstructive surgery
- Potential to accelerate development of innovative biomaterials with combination products
- Enhanced ability to partner with OEM customers in proactively meeting patient need and enhancing patient lives
Collagen Solutions is headquartered in Eden Prairie, Minneapolis, with additional strategically located sites in the UK and New Zealand.
Olivier Visa, President and Chief Executive Officer, RTI Surgical, said: “Collagen Solutions is an excellent strategic fit for RTI Surgical, bringing specialized and complementary capabilities and expertise in soft tissue engineering. Together, we are building on a significant track record with a combined 50 years of experience in developing products to help millions of patients in regenerative medicine. We are thrilled to welcome the talented Collagen team to RTI Surgical, and to expand our partnerships with customers to improve patient healing, accelerate recovery and help prevent complications.”
RTI’s acquisition of Collagen Solutions is backed by its main shareholder Montagu. Adrien Sassi, Partner at Montagu, said: “Supporting patient care by helping to bring clinically differentiated solutions to market in a fast and reliable way is at the core of RTI’s mission, and the acquisition of Collagen Solutions is a transformative step in this journey. It reinforces RTI’s ability to partner strategically with OEMs from early product development to full-scale commercialization, including in clinical applications facing unmet patient needs like structural heart and tissue reconstruction.”
Rick Mulford, CEO of Collagen Solutions, commented: "RTI Surgical shares our strong commitment to quality, innovation and customer care, making it the ideal new owner for Collagen Solutions. As we transition, I'm confident RTI will continue to drive the development of collagen-based biomaterials and effectively expand its work in cardiac and other clinical areas. We're excited for the future of Collagen Solutions under RTI's leadership."
ENDS
About RTI Surgical
RTI Surgical (RTI) is a leading CDMO (Contract Development and Manufacturing Organization) pushing the boundaries of innovation and tissue engineering to meet patient needs in regenerative medicine. We are expert partners to OEMs (Original Equipment Manufacturers), working with them to identify clinical problems and develop customized solutions that promote healing, accelerate recovery, and help prevent complications. Using our extensive portfolio of biological materials, we focus on specialized clinical segments, including plastic and reconstructive surgery, sports medicine and orthopedics, cardiac, and neuro and spine surgery. Headquartered in Alachua, Florida, RTI has manufacturing facilities in the United States and Europe. Montagu acquired RTI in a carve-out acquisition in July 2020. For more information, visit www.rtisurgical.com
For media enquiries please contact:
RTI Surgical
Amelia Bell
Tel: +1 386.418.5100
abell@rtix.com
ICR Healthcare
rtisurgical@icrhealthcare.com
