This article was originally published in The Gray Sheet
Executive SummaryNorwood, Massachusetts-based surgical anchor firm enters into agreement with Medicine Lodge Inc. to purchase "substantially all of the assets" of MLI's "suture anchor soft tissue reattachment business," including the patents to its threaded screw anchor. Terms of the deal, which is expected to close Dec. 14, were not released, but Mitek says that it will make an upfront payment to MLI, as well as additional payments contingent on "manufacturing, product development and sales objectives." MLI currently manufactures its threaded screw for Zimmer under a non-exclusive agreement. Mitek says that after the acquisition, Zimmer will continue to license the technology and will take over manufacturing in early 1995. The MLI facility in Logan, Utah will continue to manufacture the screw for sales by Mitek. Components for Mitek's current anchor technology also will be manufactured at the MLI plant
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