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ArthroCare Corp Announces Acquisition Of ENTrigue Surgical Inc.


Tuesday, 2 Jul 2013 09:05am EDT 

ArthroCare Corp announced that it has completed the acquisition of ENTrigue Surgical, Inc., a privately held Delaware corporation (ENTrigue), in an all cash transaction. Pursuant to a Merger Agreement, ArthroCare paid $45 million in cash, subject to customary working capital adjustments and an amount held in escrow for indemnification. In addition, the previous shareholders of ENTrigue will have the right to receive contingent consideration on each anniversary of the closing for each of the next five years based on the increase in net sales during each twelve-month period of ENTrigue products multiplied by an agreed upon factor. In connection with the transaction, Piper Jaffray & Co. served as financial advisor to ArthroCare and rendered a fairness opinion to ArthroCare's board of directors. DLA Piper served as legal advisor to ArthroCare. J.P. Morgan Securities LLC served as financial advisor and Norton Rose Fulbright served as legal advisor to ENTrigue. 

Company Quote

48.63
0.02 +0.04%
22 Apr 2014