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Kensey Nash pays $20mm cash for Nerites

Executive Summary

Kensey Nash Corp. (specializes in resorbable biomaterials) has acquired essentially all of the net assets and operational liabilities of Nerites Corp., a private company focused on surgical adhesives for natural tissue repair. Kensey will pay $17mm cash up front and is holding another $3mm as security for potential indemnification obligations. As long as they haven’t been applied to such obligations, the funds will be released in two equal increments at both the one- and two-year anniversaries of the deal’s closing.
Deal Industry
  • Biotechnology
    • Drug Discovery Tools
      • Molecular Diversity
        • Natural Products
  • Medical Devices
    • Biomaterials
    • Implantable Devices
    • Surgical Equipment & Devices
      • Surgical Sealants
Deal Status
  • Final
Deal Type
  • Acquisition
    • Payment Includes Cash
    • Full Acquisition
    • Intra-Biotech Deal
    • Acquisition of Private Biotech
    • Includes Contract

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