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Bacterin strikes deal to buy Robinson MedSurg.


US Bacterin International Holdings (AMEX:BONE) said Friday it has agreed to take over medical device distribution firm Robinson MedSurg in an all-stock transaction.

Initially, Bacterin will pay USD1m (EUR710,000) worth of stock in exchange for Robinson MedSurg's assets, including USD500,000 in inventory, commercial agreements and intellectual property. Furthermore, if the target firm, which specialises in surgery devices, reaches certain revenue goals over the next two years, additional USD1m in shares will be also paid.

The signed letter of intent (LoI) on the deal is subject to due diligence and getting the green light from the companies' boards of directors.

The acquisition is expected to improve the margins of Bacterin, its CEO Guy Cook said. The buyer will aim to widen the distribution network of Robinson MedSurg and improve its product portfolio.Country: , USASector: HealthcareTarget: Robinson MedSurg LLCBuyer: Bacterin International Holdings IncDeal size in USD: 2mType: Corporate acquisitionFinancing: All-stockStatus: ExclusivityComment: LoI, Deal size includes earn-out payments.

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Publication:M & A Navigator
Date:Mar 18, 2011
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