RTI Biologics® Announces Agreement to Acquire Pioneer® Surgical Technology (press release)
Acquisition creates a global surgical implant company positioned for growth in orthopedics and biologics
Compelling strategic fit with expanded distribution network and portfolio diversification
Financing includes existing cash, a new credit facility and a convertible preferred equity investment from Water Street Healthcare Partners
RTI Biologics to host conference call and webcast today at 8:30 a.m. EDT
ALACHUA, Fla.--(BUSINESS WIRE)--RTI Biologics Inc. (RTI) (Nasdaq: RTIX), a leading provider of orthopedic and other biologic implants, announced today its intent to acquire privately held Pioneer® Surgical Technology (Pioneer), headquartered in Marquette, Mich. Pioneer is a leading medical technology company that manufactures and distributes metal and synthetic products in the orthopedics, biologics, spine, trauma and cardiothoracic markets. The acquisition of Pioneer supports RTI's strategic initiatives to expand its current implant portfolio into metals and synthetics and to grow direct distribution.
“The combination of RTI and Pioneer is an exciting opportunity for both compani...
