Surgalign Holdings said Sept. 29 it will acquire Holo Surgical in a deal that could be valued up to $125 million in the fourth quarter of 2020.
Holo Surgical developed an augmented reality and artificial intelligence platform that supports digital spine surgery, the ARAI platform. The company is in the process of submitting the platform for regulatory consideration.
Surgalign will pay $42 million in cash at closing to acquire Holo Surgical. The deal has several future milestone payments that could raise its value to $125 million.
Holosurgical was founded in 2015.
Terry Rich, Surgalign Holdings president and CEO, commented on the ARIA platform, saying: "A foundational thesis at Surgalign is that digital surgery will enable the next wave of innovation in spine surgery. We wanted to find a partner who was developing truly novel digital technologies that could transform the way spine surgery is performed and support clinical research to demonstrate improved patient outcomes."