Spine device company scraps merger

Alan Condon -  

Accelus, a minimally invasive spine device company, and CHP Merger Corp., a special purpose acquisition company, have terminated a previously agreed-upon merger of the companies because of market conditions.

The decision to spike the merger was described as a "strategic pivot" that will help Accelus execute on its mission of transforming spine surgery "by accelerating the adoption of [minimally invasive surgery] as the standard of care," CEO and co-founder Chris Walsh said in an April 15 news release.

Mr. Walsh added that Acceles continues to see increased demand for its product portfolio and for robotic-enabled minimally invasive techniques in hospitals and ASCs.

"Accelus has developed a revolutionary portfolio of MIS implant solutions and robotic targeting and navigation technology that delivers an extremely compelling value proposition with improved quality and outcomes at a significantly lower overall cost of care," Joseph Swedish, chair of CHP Merger Corp, said in the release. "We look forward to finding other opportunities to collaborate and support Accelus in the future."

Accelus was formed in 2021 through the merger of Integrity Implants and Fusion Robotics. The company aims to address the cost and efficiency drawbacks of robotic spine surgery to accelerate the technology's adoption.

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