Wright Medical Group, Inc. Announces Acquisition of Solana Surgical, LLC and Entry into Definitive Agreement to Acquire OrthoPro, LLC (press release)
Adds Complementary Foot and Ankle Products to Further Accelerate Growth Opportunities and Profitability in Wright’s Extremities Business
Purchase Price of $90 Million in Cash and Stock for Solana Surgical and Up to $36 Million in Cash for OrthoPro
Both Transactions Anticipated To Be Accretive to Adjusted EBITDA in 2014 and Beyond
Wright Medical Group, Inc. (NASDAQ: WMGI) today announced it has acquired Solana Surgical, LLC (Solana) and entered into a definitive agreement to acquire OrthoPro, LLC (OrthoPro), both privately held high growth extremity companies. The transactions add complementary extremity product portfolios to further accelerate growth opportunities in Wright’s global Extremities business. The transaction with OrthoPro is expected to close in February 2014. In addition, voting agreements have been executed with members of OrthoPro holding greater than the required number of membership interests needed to approve the transaction.
Under the terms of the agreement with Solana, Wright acquired 100% of Solana’s outstandi...
