Xtant Medical Holdings Inc. is closing its facility in Dayton, Ohio, and moving fixation operations from the site to its headquarters in Belgrade, Mont.
The company expects to save over $2 million per year as a result of the consolidation which will result in a one-time charge of $1.5 million. The Ohio facility has 55 positions, a majority of which will transition to the headquarters.
Xtant CEO Carl O'Connell said the decision was prompted to maximize the benefit of the company's 2015 merger with X-Spine.
Xtant Medical, previously known as Bacterin International Holdings, acquired X-Spine Systems in 2015 for approximately $60 million in cash and 4.24 million Bacterin common stock.