Document and Entity Information
Document and Entity Information | Nov. 09, 2022 |
Cover [Abstract] | |
Document Type | 8-K/A |
Amendment Flag | true |
Document Period End Date | Nov. 09, 2022 |
Entity Registrant Name | SURGALIGN HOLDINGS, INC. |
Entity Incorporation State Country Code | DE |
Entity File Number | 001-38832 |
Entity Tax Identification Number | 83-2540607 |
Entity Address, Address Line One | 520 Lake Cook Road |
Entity Address, Address Line Two | Suite 315 |
Entity Address, City or Town | Deerfield |
Entity Address, State or Province | IL |
Entity Address, Postal Zip Code | 60015 |
City Area Code | 877 |
Local Phone Number | 343-6832 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Security 12b Title | Common Stock, $0.001 par value |
Trading Symbol | SRGA |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
Amendment Description | On November 9, 2022, Surgalign Holdings, Inc. (“Surgalign” or the “Company”) filed a Form 8-K with the Securities and Exchange Commission announcing Board approval of a companywide restructuring plan. This focus of the restructuring plan was to reduce the Company’s cash burn, while simultaneously pursuing product rationalization initiatives to help the Company drive growth in the most valuable and profitable parts of its business (Digital Health and core hardware assets). The Company is filing this amended report on Form 8-K/A to update its disclosures concerning costs associated with the restructuring.One of the key focus areas of the restructuring plan is product rationalization. The Company targeted products with declining revenue, lower or limited growth opportunities, and those that generated low ROI. The process of rationalizing the products is currently underway and is expected to be finished by the middle of 2023. As part of this product rationalization, the Company expects to incur an inventory write down of approximately $12.5m - $15.5 million in its fourth quarter of 2022 for the period ended December 31, 2022. All other charges and costs disclosed within the November 9, 2022, Form 8-K have been confirmed with no changes. |
Entity Central Index Key | 0001760173 |