Acquisition deal falls through for Tutogen Medical
This article was originally published in Clinica
Tutogen Medical (West Paterson, New Jersey) has called off talks with a private equity firm interested in acquiring the tissue implant company. President and CEO Manfred Krueger said the increasing likelihood of delays in closing the transaction - the parties were unable to agree on final details - could have had "a significant impact on our ability to successfully execute our strategic plan for fiscal year 2004 and beyond". In 2003, Tutogen's sales rose by 46% to $30.2, and net income rose from $0.9m to $2.3m.