Strategic Transaction Enhances Financial Flexibility and Supports Growth in Healthcare Innovations
Salt Lake City, UT, Feb. 20, 2025 (GLOBE NEWSWIRE) — SINTX Technologies, Inc. (NASDAQ: SINT), a leader in advanced ceramics for medical applications, today announced the sale of its wholly-owned subsidiary, Technology Assessment and Transfer (TA&T), to Tethon Corporation DBA Tethon 3D (Tethon). This transaction marks a significant step in SINTX’s ongoing transformation, allowing the Company to sharpen its focus on high-growth opportunities in the medical device sector while improving its financial position and operational efficiency.
The divestment aligns with SINTX’s refined strategy to accelerate innovation in the healthcare space. With this sale, SINTX is streamlining its operations to concentrate on commercializing bioceramic technologies that have the potential to improve patient outcomes and enhance the performance of medical implants and devices. The sale of TA&T also reduces corporate liabilities by $750,000 and lowers annual operating expenses by more than $1.7 million.
“This sale represents an important milestone in our strategic realignment,” said Eric K. Olson, CEO of SINTX Technologies. “By divesting of these assets, we are fully committing our resources to the medical device market, where our expertise in advanced ceramics can have the greatest impact. This transaction not only enhances our financial flexibility but also supports our efforts to accelerate product development and commercialization efforts in healthcare.”
The Company remains dedicated to advancing its proprietary silicon nitride-based technologies, which have been used in human implants since 2008. This renewed emphasis on healthcare innovation underscores SINTX’s confidence in its core technologies and their ability to drive long-term value creation.
For more information, please visit www.sintx.com
About SINTX Technologies, Inc.
Located in Salt Lake City, Utah, SINTX Technologies is an advanced ceramics company that develops and commercializes materials, components, and technologies for medical applications. SINTX is a global leader in the research, development, and manufacturing of silicon nitride, and its products have been implanted in humans since 2008. Over the past several years, SINTX has utilized strategic acquisitions and alliances to enter into new markets. For more information on SINTX Technologies or its materials platform, visit www.sintx.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”) that are subject to a number of risks and uncertainties. Forward-looking statements can be identified by words such as: “anticipate,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding operating efficiencies realized from the sale of TA&T, the benefits of our products for patients, our ability to successfully develop and commercialize new and existing products, our ability to generate long-term value, advancement of ceramic technologies and exploring new avenues for growth and innovation, and the potential to pursue growth opportunities and explore strategic opportunities.
Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date on which they are made and reflect management’s current estimates, projections, expectations and beliefs. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, difficulty in commercializing ceramic technologies and development of new product opportunities. A discussion of other risks and uncertainties that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements can be found in SINTX’s Risk Factors disclosure in its Annual Report on Form 10-K, filed with the SEC on March 27, 2024, and in SINTX’s other filings with the SEC. SINTX undertakes no obligation to publicly revise or update the forward-looking statements to reflect events or circumstances that arise after the date of this report, except as required by law.
Business and Media Inquiries for SINTX:
SINTX Technologies
801.839.3502
[email protected]
