Xtant announces closure of Dayton, Ohio facility
Xtant Medical Holdings announced the closure of its Dayton, Ohio facility and the transitioning of its fixation operations to the company's headquarters in Belgrade, Montana. The company said, "This decision will allow the company to align operations with the current and future needs of its customers, and recognize cost-savings by consolidating facilities and reducing duplicative resources. The Dayton, Ohio facility employs approximately 55 employees in various quality assurance, regulatory, inventory management, finance, engineering, and distribution positions. Many of these functions will ultimately transition to our Montana facility. Once the transition is completed, annualized cost savings are anticipated to be in excess of $2M, resulting from right-sizing the organization and reduction in facilities. The one-time cost for executing this change is estimated to be $1.5M." The company will file the Worker Adjustment and Retaining Notification with the State of Ohio and the Department of Job and Family Services.