Synovis/Pegasus
This article was originally published in The Gray Sheet
Executive Summary
St. Paul, Minn., company announces $12.1 million acquisition of soft tissue repair device-maker Pegasus is complete on July 21. Synovis makes implantable biomaterials for soft tissue repair and microsurgery and surgical tools. The deal gives Synovis two equine pericardial-based technologies, the OrthADAPT bioimplant, cleared for surgical applications, and Unite biomatrix, indicated for treatment of chronic wounds. Synovis has so far hired 25 of Pegasus' 75 employees and retains Pegasus' Irvine, Calif., manufacturing operation as a separate division