Printer Friendly

Bacterin strikes deal to buy Robinson MedSurg.

MANews-(C)2009-2011

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.

COPYRIGHT 2011 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M & A Navigator
Date:Mar 18, 2011
Words:161
Previous Article:Artemis Beteiligungen III says Feintool bid unconditional.
Next Article:Teledyne unit takes majority stake in Nova Sensors.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters