RTI Surgical Announces Spin Off of Businesses into Two Independent Companies
January 4, 2022
Metals business will become Resolve Surgical Technologies. Tissue & Biologics business will retain the RTI Surgical name.
ALACHUA, Fla., Jan. 4, 2022 -- 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.
As industry-leading surgical implant suppliers, both businesses partner with leading 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.
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.”
About RTI Surgical
RTI Surgical (RTI) is a global, industry-leading private label OEM that provides design, new product development, processing, and manufacturing services in support of patients and leading medical technology companies. With expertise in allograft and xenograft tissue-based implants RTI serves partners across a diverse set of market segments, including but not limited to, Dental, Plastic and Reconstructive Surgery, Sports Medicine, Spine, Trauma and Urology/Urogynecology. RTI is headquartered in Alachua, Fla., and has three manufacturing facilities throughout the United States and Europe. The company is accredited in the U.S. by the American Association of Tissue Banks. For more information, visit http://www.rtisurgical.com.
About Resolve Surgical Technologies
Resolve Surgical Technologies is an industry-leading private label OEM that designs, develops and manufactures metal and polymer implants and instruments serving the orthopedics, spine and cardiothoracic markets. Originally founded in 1992 as Pioneer Surgical Technology, Inc. and later known as the Metals division of RTI Surgical, Resolve became known for their innovative designs and engineering expertise. Today, Resolve Surgical focuses on creating value as an extension of our OEM partners’ teams to deliver innovation, accelerate speed to revenue and drive lifecycle management with robust quality and regulatory support. For more information, visit www.resolvesurg.com.
Montagu is a leading mid-market private equity firm, committed to finding and growing businesses that make the world work. With deep experience in healthcare and the tech-enablement of essential businesses, Montagu brings proven growth capabilities to help companies achieve their ambitions and unlock the full potential of their business. Montagu is committed to the mid-market, with a specialism in carve-out transactions and other first-time buyout investments. ESG forms an integral part of its strategy, and its commitment to sustainable investment is fully integrated into its investment and value-creation process. Montagu partners with companies with enterprise values between €200 million and €1 billion and has €10bn assets under management.
For additional information on Montagu, visit www.montagu.com