Xtant Medical and Dilon Technologies Announce Exclusive U.S. Distribution Agreement for Dilon's HEMOBLAST® Bellows Product

Rhea-AI Summary

Xtant Medical (NYSE:XTNT) acquired exclusive U.S. distribution rights to Dilon Technologies' HEMOBLAST® Bellows, a pre-loaded hemostatic powder for minimal to moderate surgical bleeding. Xtant will integrate Dilon's approximately 20-person U.S. sales team and aims to expand penetration of an estimated $2.0 billion global hemostatic market.

HEMOBLAST contains collagen, human thrombin, and bovine chondroitin sulfate and requires no prep. Xtant plans to update its full-year 2026 financial guidance when reporting Q1 2026 results.

AI-generated analysis. Not financial advice.

Positive

• Exclusive U.S. distribution rights to HEMOBLAST Bellows
• Integration of approximately 20-person U.S. sales team
• Access to an estimated $2.0 billion global hemostatic market
• HEMOBLAST requires no prep and covers minimal–moderate bleeding

Negative

• Planned update to full-year 2026 guidance creates near-term outlook uncertainty

News Market Reaction – XTNT

-0.69%

7 alerts

-0.69% News Effect

+15.8% Peak Tracked

-10.0% Trough Tracked

-$467K Valuation Impact

$67.23M Market Cap

0.6x Rel. Volume

On the day this news was published, XTNT declined 0.69%, reflecting a mild negative market reaction. Argus tracked a peak move of +15.8% during that session. Argus tracked a trough of -10.0% from its starting point during tracking. Our momentum scanner triggered 7 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $467K from the company's valuation, bringing the market cap to $67.23M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Global hemostatic TAM: $2.0 billion U.S. sales team size: approximately 20 people

2 metrics

Global hemostatic TAM $2.0 billion Estimated global addressable market for hemostatic products

U.S. sales team size approximately 20 people Dilon U.S. sales team integrated into Xtant organization

Market Reality Check

Price: $0.4800 Vol: Volume 37,635 vs. 20-day ...

low vol

$0.4800 Last Close

Volume Volume 37,635 vs. 20-day average 186,120 (about 20% of typical activity) indicates limited immediate participation. low

Technical Price at 0.48, trading below the 200-day moving average of 0.65.

Peers on Argus

XTNT is up about 1.1% while several close medical-device peers such as APYX (-3....

1 Up 3 Down

XTNT is up about 1.1% while several close medical-device peers such as APYX (-3.79% in momentum scan, -0.25% in sector list) and TELA (-5.24%) are down, indicating a stock-specific reaction rather than a sector-wide move.

Historical Context

5 past events · Latest: Apr 09 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Apr 09	Community initiative	Neutral	+1.0%	Support for organ and tissue donor memorial project in Montana.
Mar 31	Earnings results	Positive	+2.8%	Profitable 2025 with revenue growth and 2026 revenue guidance issued.
Mar 25	Earnings date notice	Neutral	+0.6%	Announcement of timing and call details for 2025 results release.
Mar 02	Asset divestiture	Positive	+0.2%	Completion of Companion Spine transactions and receipt of $10.7M payment.
Feb 25	Conference participation	Neutral	+0.8%	Participation in a musculoskeletal conference with webcast and 1:1 meetings.

Pattern Detected

Recent news events, including financial results and portfolio moves, have generally been followed by modest positive price reactions.

Recent Company History

Over the last few months, XTNT has reported a profitable 2025, divested non-core Coflex/CoFix and Paradigm assets for $21.4M, and issued 2026 revenue guidance of $95M–$99M. News tied to these strategic and financial milestones, as well as conference participation and community initiatives, has been followed by small positive price moves (all five recent items showed gains within 24 hours). Today’s distribution deal fits the pattern of expanding a focused biologics and surgical solutions portfolio after divestitures.

Market Pulse Summary

This announcement highlights XTNT’s move into a broader hemostatic market through exclusive U.S. rig...

Analysis

This announcement highlights XTNT’s move into a broader hemostatic market through exclusive U.S. rights to HEMOBLAST Bellows and integration of Dilon’s approximately 20-person sales team. The product targets an estimated $2.0 billion global hemostatic market and complements XTNT’s spine-focused biologics strategy following recent divestitures. Investors may watch how the company updates its 2026 financial guidance and executes on commercial integration and surgeon adoption.

Key Terms

hemostatic, hemostasis, collagen, thrombin, +4 more

8 terms

hemostatic medical

"global addressable market for hemostatic products BELGRADE, Mont."

Hemostatic describes a product, material or treatment that stops or controls bleeding by helping blood clot or sealing a wound, like a plug or heavy-duty bandage for internal or surgical bleeding. Investors care because hemostatic products are used in surgeries, emergency care and trauma management; their clinical effectiveness, regulatory approval, and adoption by hospitals influence sales, reimbursement and a company’s growth prospects.

hemostasis medical

"Bellows for high-performance hemostasis following certain surgical procedures."

Hemostasis is the body’s process for stopping bleeding, using a coordinated set of responses that form clots and seal damaged vessels—think of it as the body's natural emergency patch and repair crew. It matters to investors because drugs, medical devices, and diagnostics that influence hemostasis can affect patient outcomes, regulatory approval paths, and market demand for treatments of bleeding disorders or clot-related conditions, so advances or safety issues can materially impact company value.

collagen medical

"only hemostat containing collagen (mechanical hemostat), human derived thrombin"

A structural protein that acts like the body’s scaffolding or glue, giving skin, bones, tendons and cartilage strength and elasticity; it is made naturally and also manufactured for supplements, cosmetics, medical implants and wound-healing products. Investors care because demand, production methods, patent protection and regulatory approval for collagen-based products directly affect company revenue and costs—improvements or setbacks can change market value much like a new building material can reshape a construction market.

thrombin medical

"collagen (mechanical hemostat), human derived thrombin (which converts fibrinogen"

Thrombin is a natural protein in the blood that acts like a foreman on a construction site, telling the building blocks of a clot to join together and stop bleeding. Investors care because drugs or devices that boost, block, or measure thrombin are central to treatments for bleeding and clotting disorders, and changes in safety, efficacy or regulation of those products can affect company revenues and risk profiles.

fibrinogen medical

"human derived thrombin (which converts fibrinogen to fibrin, a basic element"

A blood protein that acts like natural glue to form clots when a vessel is injured, helping stop bleeding by turning into the fibrous mesh that stabilizes a wound. Investors watch fibrinogen because its levels and behavior drive demand for diagnostics, drugs and medical devices related to bleeding, clotting and cardiovascular disease; changes in tests, treatments or regulations can directly affect markets for those products.

fibrin medical

"converts fibrinogen to fibrin, a basic element required for blood clotting)"

Fibrin is a fibrous protein created from fibrinogen during blood clotting that forms a mesh to stop bleeding and support tissue repair—think of it as the body’s natural glue that seals a wound. Investors pay attention to fibrin because it is the active material in surgical sealants, wound-care products and tissue-engineering scaffolds, so regulatory approvals, clinical trial results or wider clinical use can directly affect revenue and valuation for medical and biotech companies.

chondroitin sulfate medical

"and bovine-derived chondroitin sulfate (which provides cohesion between the wound"

A long-chain sugar molecule found naturally in cartilage and connective tissue, commonly used as an ingredient in drugs and dietary supplements aimed at improving joint comfort and mobility. Investors pay attention because clinical study results, regulatory decisions, patent rights, manufacturing costs and consumer demand for products containing chondroitin sulfate can directly affect sales, margins and valuations for companies in the pharmaceuticals, supplements and medical-device supply chains.

hemostat medical

"HEMOBLAST is the only hemostat containing collagen (mechanical hemostat), human"

A hemostat is a medical device or material used to stop bleeding during surgery or after injury, either as a clamp that pinches blood vessels or as a topical product that helps blood clot. It matters to investors because hemostats are routine, recurring hospital supplies with steady demand; changes in product approvals, how insurers pay for them, or adoption of new types can directly affect a medical supplier’s sales, margins and market share.

AI-generated analysis. Not financial advice.

Xtant has hired Dilon's U.S. sales team to assist in selling the HEMOBLAST^® Bellows product and penetrating the estimated $2.0 billion global addressable market for hemostatic products

BELGRADE, Mont. and NEWPORT NEWS, Va., April 13, 2026 /PRNewswire/ -- Xtant Medical Holdings, Inc. (NYSE American: XTNT), a medical technology company focused on surgical solutions for spinal and other orthopedic conditions, and Dilon Technologies, Inc., a medical device manufacturer, today announced that the companies have entered into an agreement whereby Xtant has acquired exclusive U.S. distribution rights to Dilon's HEMOBLAST^® Bellows for high-performance hemostasis following certain surgical procedures.

Sean Browne, President and CEO of Xtant Medical, stated, "We are excited to partner with Dilon Technologies to bring HEMOBLAST, a highly complementary hemostatic technology, to a broader group of surgeons. This agreement expands our portfolio with a unique and versatile hemostatic solution while also significantly bolstering our own commercial capabilities with the integration of Dilon's approximately 20-person U.S. sales team into our organization. With our broadened product offering and enhanced reach and sales capabilities, we believe we can better address the comprehensive needs of surgeons and patients alike while meaningfully expanding our addressable market."

George Makhoul, CEO of Dilon Technologies, stated, "HEMOBLAST is highly differentiated in the surgical hemostat market with its unique composition as the only collagen/thrombin formulation that provides applicability across minimal, mild, and moderate bleeding types, and we are very pleased to entrust its future growth to Xtant. As a recognized leader in the manufacture and distribution of novel biologics solutions for a range of surgical applications, we believe Xtant is the ideal partner to extend the U.S. commercial reach of HEMOBLAST and achieve its full market potential."  

HEMOBLAST Bellows is a pre-loaded hemostatic powder indicated in surgical procedures as an adjunct to hemostasis when control of minimal, mild, and moderate bleeding by conventional procedures is ineffective or impractical, except in ophthalmic and urological procedures. HEMOBLAST is the only hemostat containing collagen (mechanical hemostat), human derived thrombin (which converts fibrinogen to fibrin, a basic element required for blood clotting), and bovine-derived chondroitin sulfate (which provides cohesion between the wound and surrounding tissue). Delivered via a pre-loaded bellows applicator, HEMOBLAST requires no prep prior to use.   

Xtant plans to update its full-year 2026 financial guidance in light of the new distribution arrangement in connection with the release of its first quarter 2026 financial results.

About Dilon Technologies® Inc.

Dilon Technologies Inc., a medical device manufacturer based in Newport News, Virginia, strives to improve the quality of care by providing a wide range of innovative medical device technology that benefits patients around the world. Dilon has a strong medical device portfolio which includes HEMOBLAST Bellows, the only combination powdered surgical hemostat that contains collagen, thrombin and chondroitin sulfate, MarginProbe, a groundbreaking technology for accurate margin assessment in breast cancer surgery, the Navigator System, a surgical gamma probe system for radio-guided lymphatic mapping and tumor localization, TrueView Pro 100, a specimen radiography system (SRS) that uses advanced radiography and automated software to precisely identify tumor lesions in resected or biopsied breast tissue, and the CoPilot, an innovative, portable, and easy to use video laryngoscope.

About Xtant Medical Holdings, Inc.

Xtant Medical's mission of honoring the gift of donation so that our patients can live as full and complete a life as possible, is the driving force behind our company. Xtant 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 serving the chronic and surgical wound care and sports medicine markets, as well as spinal implant systems. Xtant people are dedicated and talented, operating with the highest integrity to serve our customers.

The 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.

Cautionary Statement Regarding Forward-Looking Statements

This 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," similar expressions or the negative thereof, and the use of future dates. Forward-looking statements in this release include Xtant's expectations regarding the exclusive distribution arrangement and its ability to better address the comprehensive needs of surgeons and patients. Xtant 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 success of the distribution arrangement and the HEMOBLAST^® Bellows product, including future U.S. sales and the additional U.S. sales personnel and their impact on Xtant's business and operating results; the possibility that the distribution agreement may be terminated by either party; the effect of the distribution agreement on Xtant's business, including its relationships with other distributors, independent sales representatives and personnel, and its business and operating results; Xtant's future operating and financial performance and its ability to increase or maintain revenue; the success of Xtant's expanded field sales force to improve Xtant's reach and leverage its outstanding contract portfolio and independent agent network; its ability to become operationally self-sustaining and less reliant on third-party manufacturers and suppliers; risks associated with acquisitions and dispositions; its ability to implement successfully its future growth initiatives and risks associated therewith; possible future impairment charges to long-lived assets and goodwill and write-downs of excess and obsolete inventory; its ability to continue to innovate, develop and introduce new products and the success of those products; its ability to remain competitive; its ability to engage and retain new and existing independent distributors and agents and qualified sales and other personnel and its dependence on key independent agents for a significant portion of its revenue; the effect of inflation, elevated interest rates and other recessionary factors and supply chain disruptions; the effect of product sales mix changes on its financial results; its ability to service its debt, comply with debt covenants, and access additional indebtedness or financing on favorable terms or at all, if and when needed, and other risk factors  contained in Xtant's Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (SEC) on March 31, 2026 and subsequent SEC filings by Xtant. Investors are encouraged to read Xtant's filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. Xtant 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 Xtant or persons acting on its behalf are expressly qualified in their entirety by this cautionary statement. 

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SOURCE Xtant Medical Holdings, Inc.

FAQ

What did Xtant (XTNT) announce about HEMOBLAST on April 13, 2026?

Xtant announced exclusive U.S. distribution rights to Dilon's HEMOBLAST Bellows. According to the company, Xtant will integrate Dilon's ~20-person U.S. sales team to commercialize the product in the U.S.

How does HEMOBLAST Bellows work and what bleeding types does it cover for XTNT?

HEMOBLAST is a pre-loaded hemostatic powder combining collagen, human thrombin, and bovine chondroitin sulfate to address minimal, mild, and moderate bleeding. According to the company, it requires no preparation before use.

Will Xtant (XTNT) change its 2026 financial guidance because of the Dilon deal?

Yes. Xtant plans to update its full-year 2026 financial guidance in connection with its Q1 2026 results. According to the company, the guidance update follows the new distribution arrangement.

What commercial benefits does the HEMOBLAST agreement bring to Xtant (XTNT)?

The agreement expands Xtant's surgical portfolio and commercial reach via Dilon's U.S. sales team. According to the company, this is intended to help penetrate an estimated $2.0 billion global market for hemostatic products.

Are there exclusions or limitations for HEMOBLAST Bellows use mentioned by Xtant (XTNT)?

Yes. HEMOBLAST is indicated as an adjunct for minimal to moderate bleeding but is not indicated for ophthalmic and urological procedures. According to the company, those procedure types are excluded.