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Kensey Nash pays $20mm cash for Nerites
16 Mar 2011
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
- Medical Devices
-
Medical Devices
- Biomaterials
- Implantable Devices
-
Surgical Equipment & Devices
- Surgical Sealants
-
Biotechnology
-
Drug Discovery Tools
-
Molecular Diversity
- Natural Products
-
Molecular Diversity
-
Drug Discovery Tools
Deal Status
- Final
Deal Type
-
Acquisition
- Acquisition of Private Biotech
- Full Acquisition
- Includes Contract
- Intra-Biotech Deal
- Payment Includes Cash
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Questions?
Questions?
Please contact Sales at: (212) 520-2765 or email [email protected]
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Kensey Nash pays $20mm cash for Nerites
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