Full Press Release Details
Medical Appoints Mark Schallenberger as Chief Operations Officer
MT, January 9, 2023 - Xtant Medical Holdings, Inc. (NYSE American: XTNT), a global medical technology company focused on surgical
solutions for the treatment of spinal disorders, today announced the appointment of Mark Schallenberger as Chief Operations Officer,
effective January 16, 2023.
are thrilled to have Mark rejoin the team as we reinvent Xtant," said Sean Browne, President and Chief Executive Officer of Xtant
Medical. "In this newly created role, Mark will drive the modernization of our production, lead the optimization of our processes
and operations, and support the diversification and development of new product lines. We look forward to Mark's contributions to
our key growth pillars."
am excited to be rejoining Xtant Medical in this new role," said Mark Schallenberger. "The Company is well-positioned to
invest and build upon the development of its innovative and industry leading orthobiologics. I look forward to working with the leadership
team to drive better operational efficiencies and generate profitable growth."
Schallenberger has more than 12 years of orthobiologics experience focused on product development and scientific affairs, having most
recently served as Chief Operations Officer at Surgenex, a medical technology manufacturer, since June 2019. Previously, he served as
Senior Director of Marketing and Product Development at DCI Donor Services Tissue Bank, beginning in February 2016. Before that, Mr.
Schallenberger served in various roles with increasing responsibility from September 2010 to February 2016 culminating with Director
of Scientific Affairs with Xtant Medical, formerly Bacterin International Holdings. Mr. Schallenberger holds a Master of Science in Chemical
Biology from The Scripps Research Institute and a Bachelor of Science degree in Chemistry from the University of Montana.
Xtant Medical Holdings, Inc
Medical Holdings, Inc. (www.xtantmedical.com) is a global medical technology company focused on the design, development, and commercialization
of a comprehensive portfolio of orthobiologics and spinal implant systems to facilitate spinal fusion in complex spine, deformity and
degenerative procedures. Xtant people are dedicated and talented, operating with the highest integrity to serve our customers.
symbols and denote trademarks and registered trademarks of Xtant Medical Holdings, Inc. or its affiliates, registered as
indicated in the United States, and in other countries. All other trademarks and trade names referred to in this release are the property
of their respective owners.
Statement Regarding Forward-Looking Statements
press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include
words such as "intends," expects,'' anticipates,'' plans,''
believes,'' estimates,'' "continue," "future," will,''
"potential," "going forward," similar expressions or the negative thereof, and the use of future dates. Forward-looking
statements in this release include the Company's expectations regarding its future growth strategy. The Company cautions that its
forward-looking statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety
of important factors, including, among others: the Company's future operating results and financial performance; the ability to
increase or maintain revenue; possible future impairment charges to long-lived assets and goodwill and write-downs of excess inventory
if revenues continue to decrease; the ability to remain competitive; the ability to innovate, develop and introduce new products; the
ability to engage and retain new and existing independent distributors and agents and qualified personnel and the Company's dependence
on key independent agents for a significant portion of its revenue; the effect of the COVID-19 pandemic and labor and staffing shortages
on the Company's business, operating results and financial condition, especially when they affect key markets; the Company's
ability to implement successfully its future growth initiatives and risks associated therewith; the effect of inflation, increased interest
rates and other recessionary indicators and supply chain disruptions; the effect of product sales mix changes on the Company's
financial results; government and third-party coverage and reimbursement for Company products; the ability to obtain and maintain regulatory
approvals and comply with government regulations; the effect of product liability claims and other litigation to which the Company may
be subject; the effect of product recalls and defects; the ability to obtain and protect Company intellectual property and proprietary
rights and operate without infringing the rights of others; the ability to service Company debt, comply with its debt covenants and access
additional indebtedness; the ability to obtain additional financing on favorable terms or at all; and other factors. Additional risk
factors are contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities
and Exchange Commission (SEC) on March 8, 2022 and subsequent SEC filings by the Company. Investors are encouraged to read the Company's
filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The Company undertakes no
obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof
or to reflect the occurrence of unanticipated events, except as required by law. All forward-looking statements attributable to the Company
or persons acting on its behalf are expressly qualified in their entirety by this cautionary statement.