Wright Medical Technology, Inc. (WMGI) Completes Acquisition of BioMimetic Therapeutics, Inc. (BMTI)
3/1/2013 10:00:55 AM
ARLINGTON, Tenn.--(BUSINESS WIRE)--Wright Medical Group, Inc. (NASDAQ: WMGI) today announced that it has completed its acquisition of BioMimetic Therapeutics, Inc. The transaction combines BioMimetic’s breakthrough biologics platform and pipeline with Wright’s established sales force and product portfolio, to further accelerate growth opportunities in Wright’s Extremities business. Wright previously announced plans on November 19, 2012 to acquire BioMimetic Therapeutics, Inc. for an upfront purchase price of approximately $190 million in cash and stock plus additional milestone payments of up to approximately $190 million in cash, which are payable upon receipt of FDA approval of Augment® Bone Graft and upon achieving certain revenue milestones.