Corin USA takes control of orthopaedics venture:
This article was originally published in Clinica
Executive Summary
Biodynamics has sold its 51% share in Corin Orthopedics Products to Corin USA, a wholly-owned subsidiary of Corin Medical (UK), for $450,000 cash. Corin USA now owns 100% of the orthopaedics venture. Biodynamics has agreed to provide Corin with accounting and management services for three years. As a result of the transaction, Biodynamics expects to report a $150,000 gain in the fourth quarter. The proceeds from the sale will be used to develop Biodynamics' tissue recovery business in the US. The company has just resumed shipment of its dura mater (see Clinica No 669/70, page 23 ).
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