Tenon Medical, Inc. announced on August 1, 2025, the strategic acquisition of substantially all assets of SiVantage, Inc. and SIMPL Medical, LLC. This move transforms Tenon Medical from a single-product company into a diversified sacropelvic fusion solutions provider.
The SiVantage acquisition includes SImmetry® and SImmetry+™ technologies, which are expected to deliver immediate, meaningful revenue and active case volume. This significantly enhances Tenon's commercial organization, market access, and offers physicians multiple approaches and implant formats for SI joint disorders.
The SiVantage transaction involved $750,000 in cash, 710,300 shares of common stock (with 473,533 held in escrow), and a royalty equal to 15% of SI Products sales for one year and 10% for the following four years, capped at $5 million. A deferred cash payment of up to approximately $1.3 million is contingent on warrant exercises, and 867,356 shares of common stock are contingent on achieving aggregate sales milestones of $1 million, $10 million, and $20 million for SI Products. The SIMPL acquisition involves a royalty equal to 30% of net revenue for five years, reducing to 20% if aggregate payments exceed $20 million, with an option to pay up to 33.3% of quarterly royalties in stock.
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