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Xtant Medical closing Ohio-based facility

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.