In a move designed to provide financial flexibility for its growth strategy, Salt Lake City-based SINTX Technologies Inc. has sold its wholly owned subsidiary Technology Assessment and Transfer (TA&T) to Tethon Corp. of Omaha, Nebraska. Tethon Corp. does business as Tethon 3D in the ceramic additive manufacturing sector.
“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,” SINTX, a maker of advanced ceramics for medical applications, said in a statement.
SINTX said the divestment aligns with its strategy to accelerate innovation in the health care space, specifically the commercialization of its bioceramic technologies. The company said the sale of TA&T 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. “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 health care.”
Full financial details of the sale were not disclosed.