Wright Medical Group, Inc. (WGMI) Completes Acquisition of INBONE Technologies, Inc.
4/3/2008 9:38:45 AM
ARLINGTON, Tenn.--(BUSINESS WIRE)--Wright Medical Group, Inc. (NASDAQ: WMGI), a global orthopaedic manufacturer, announced today that it has completed its acquisition of INBONE Technologies, Inc., for an initial cash payment of $24 million, guaranteed minimum future payments of $3.7 million and potential additional cash payments based upon the future operational and financial performance of the company. The INBONE acquisition marks the seventh business development initiative targeted for the foot and ankle surgery market that Wright has executed in the past 12 months. The combination of these business development initiatives, internal new product development and sales force specialization has positioned Wright as a leader in this rapidly expanding market.