Axogen said it will buy privately held Biocircuit Technologies for $200 million in cash, adding Nervetape, the first FDA-approved device for sutureless peripheral nerve repair, in a deal expected to close in the fourth quarter of 2026.
The company said $1 million of the estimated merger consideration will be withheld until the post-closing purchase price adjustment is determined. The deal remains subject to customary closing conditions, including completion of Biocircuit’s electronics research and development spin-out.
Axogen said the acquisition is expected to be accretive to revenue growth, adjusted EBITDA margin and adjusted EPS in the first year after closing, while the company remains free cash flow positive.
Nervetape is intended to let surgeons align, connect and protect transected nerves without microsutures. Axogen said the product should broaden its addressable market by reducing reliance on microsurgical skills and expanding use into more surgeon groups and care settings.
The company said the acquisition adds a technology platform that complements its existing portfolio and could support future product development and new indications. Axogen also said the deal should deepen penetration in its current focus markets through its sales force, surgeon relationships and hospital contracting infrastructure.
Axogen described Nervetape as having been adopted by surgeons across multiple nerve repair settings, with clinical experience to date supporting its performance and safety profile. As a result of these announcements, the company's shares have moved -7.04% on the market, and are now trading at a price of $43.94. For the full picture, make sure to review Axogen's 8-K report.
