MedoveX Corp. has made its first acquisition under newly appointed CEO William Horne.
The Alpharetta, Ga.-based company — formed to acquire and develop a portfolio of medical technology products and services — said it entered a definitive agreement to acquire the pulmonary biomedical services and patient delivery platform of Regenerative Medicine Solutions LLC in an all-stock deal.
The acquisition reunites Laser Spine Institute's executive management team with Horne, who founded the medical device company and served as its CEO.
Regenerative Medicine Solutions is a Tampa, Fla.-based biomedical services company that manages all five clinics of Lung Health Institute, a provider of cellular therapies to treat chronic obstructive pulmonary disease, or COPD, and other chronic lung disorders.
COPD is the fourth-leading cause of disability in the U.S.
With more than $32 billion spent on COPD-related patient care in 2010, those costs are projected to increase to $49 billion by 2020, according to Medovex.