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Wright Medical Group Inc And MicroPort Scientific Corp's MicroPort Medical B.V. Enter Into Definitive Agreement Under Which MicroPort Will Acquire Wright’s OrthoRecon Business-Reuters


Wednesday, 19 Jun 2013 06:30pm EDT 

Reuters reported that Wright Medical Group Inc announced a definitive agreement under which MicroPort Medical B.V., a subsidiary of MicroPort Scientific Corp will acquire Wright`s OrthoRecon business. The purchase price is $290 million, subject to a net working capital adjustment, and is payable in cash at closing, which is expected to occur by the end of the third quarter or early in the fourth quarter of 2013. Wright`s OrthoRecon business consists of hip and knee implant products and generated global revenue of approximately $269 million in 2012. The OrthoRecon business has established hip and knee franchise brands including DYNASTY and CONSERVE hips, PROFEMUR modular stems, SUPERPATH minimally invasive hip surgical instrumentation, and ADVANCE and EVOLUTION medial-pivot knee implants. 

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26 Dec 2014