Wright Medical Group to Combine Businesses with BioMimetic Therapeutics (BMTI)
** Wright Medical Group, Inc. and BioMimetic Therapeutics, Inc. (Nasdaq:BMTI) reported that they have entered into a definitive agreement for a business combination of Wright and BMTI. The transaction will combine BMTIs breakthrough biologics platform and pipeline with Wrig
Online PR News – 20-November-2012 –BMTI, BioMimetic Therapeutics, Inc.
Wright Medical Group, Inc. and BMTI reported that they have entered into a definitive agreement for a business combination of Wright and BMTI. The transaction will combine BMTIs breakthrough biologics platform and pipeline with Wrights established sales force and product portfolio, to further accelerate growth opportunities in Wrights Extremities business. Under the terms of the agreement, the transaction has a total potential value for BMTI shareholders of approximately $380 million, or $12.97 per share, based on Wrights closing stock price on Friday, November 16, 2012. The transaction is expected to close in the first quarter of 2013 and is subject to customary closing conditions, including BMTI shareholder approval. BMTI is a biotechnology company specializing in the development and commercialization of clinically proven products to promote the healing of musculoskeletal injuries and diseases, including therapies for orthopedics, sports medicine and spine applications. More about BMTI at www.biomimetics.com.
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