A medtech company's SPAC merger falls flat, missing on nine-figure valuation

The biotech bear market is not leaving medtech companies out of its reach, as Integrity Implants, aka Accelus, is now discovering.

Accelus and SPAC partner CHP Merger Corp. will no longer be joining hands in a reverse merger, the companies announced late Friday. The pair had announced last November that it would attempt to take Accelus, which focuses on making minimally invasive surgery (MIS) a standard of care in spine treatment, public through the $482 million blank check vehicle.