UPDATE: RTI Surgical Announces Deal with Medtronic, Includes Transfer Fee Structures, Rights to IP

RTI

announced today that it has entered into a new agreement with Medtronic Sofamor Danek USA, Inc. (MSD) to process allograft implants for use in spinal surgeries. The initial term of the agreement runs until Dec. 31, 2017 with two five year extensions available through 2027. The terms of the agreement are substantially equivalent to the previous agreement between the two companies, which was set to expire June 2014, and include transfer fee structures and intellectual property rights for spinal allograft distribution. With this new agreement, RTI will continue its long-term relationship with MSD to effectively and efficiently meet their demand, as well as maximize the gift of human donated tissue to help more patients in need.