Wright pads out extremities
This article was originally published in Clinica
Wright Medical has inked a deal to buy Biotech International, a French orthopedic extremities company, in a bid to grow its direct sales channel outside the US. Arlington, Tennessee-headquartered Wright sold its reconstructive implant business as part of its strategy to focus exclusively on extremities earlier this year (www.clinica.co.uk, 20 June 2013). Wright will pay $75m upfront for Biotech using a mix of $55m cash and $20m stock; it has also agreed to pay a further $5m in revenue milestones in 2013 and 2015.