Spinal Elements Holdings (SPEL) intends to raise $108 million in an IPO of its common stock, according to an S-1 registration statement.
Carlsbad, California-based Spinal Elements was founded to design spinal medical devices and instruments that utilize less invasive surgical techniques.
Management is headed by co-founder, president and CEO Jason Blain, who has been with the firm since and was previously manager of Product Development at NuVasive (NUVA).
The company’s primary offerings include:
- Spinal fixation systems
- Interbody implants
- Surgical instruments
Management says its existing portfolio ‘can address approximately 95% of the spine surgery procedures performed worldwide in 2018…’
Spinal Elements has received at least $57 million from investors including Kohlberg Funds.
The company sells its products primarily via ‘a network of over 200 independent distributors and over 400 surgeons across more than 500 hospitals and ambulatory surgery centers.’
Selling, G&A expenses as a percentage of total revenue