RTI Surgical Holdings, Inc. (Nasdaq: RTIX), a global surgical implant company, announced Monday a definitive agreement for the sale of the Company’s OEM business to Montagu Private Equity LLP (‘Montagu’), a leading European private equity firm, for a total consideration of $490 million. The transaction is targeted to close in the first half of 2020. The RTI Surgical Holdings Board of Directors unanimously approved the transaction. The transaction is subject to approval from RTI Surgical Holdings’ shareholders, the customary regulatory approvals and the satisfaction of customary closing conditions, and is targeted to close in the first half of 2020. Upon closure of the transaction, RTI Surgical Holdings will be a global pure play spine business focused on growth and innovation.
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