RTI, Tutogen weigh up RTI Biologics as new name for merged entity:
This article was originally published in Clinica
Executive Summary
Biological implant firms Regeneration Technologies (RTI) and Tutogen Medical have asked the former's shareholders to approve RTI Biologics as the name for the combined entity that will result from a merger of the two companies. Two separate meetings, one at RTI's headquarters and the other at Tutogen's, have been scheduled to vote on the specifics of the merger on February 27. The $263m deal, which is expected to close during the first quarter of 2008, was agreed last November (see Clinica No 1283, p 14) and will hand RTI shareholders a 55% stake in the new company, while Tutogen shareholders will own 45%. The stock of the new company will be listed in the Nasdaq Stock Exchange under RTI's current ticker symbol "RTIX".