Cartiva website
Wright Medical Group N.V. Enters Into Definitive Agreement to Acquire Cartiva, Inc. (press release)
Will Add Unique PMA-Approved Technology for High Volume Foot & Ankle Procedure and Further Accelerate Growth Opportunities in Wright's Extremities Business
Purchase Price of $435 Million Cash
Wright Medical Group N.V. (NASDAQ:WMGI) today announced it has entered into a definitive agreement to acquire Cartiva, Inc., a private orthopaedic medical device company focused on treatment of osteoarthritis of the great toe. The transaction will add a differentiated PMA-approved technology for a high-volume foot and ankle procedure and further accelerates growth opportunities in Wright's global Extremities business.
Under the terms of the agreement with Cartiva, Wright will acquire 100% of Cartiva's outstanding equity on a fully diluted basis for a total price of $435 million in cash.
Cartiva's lead product, a Synthetic Cartilage Implant (SCI) for treating arthritis at the base of the great toe, received U.S. Premarket Approval (PMA) in July 2016. The SCI is composed of a biocompatible, durable, low-friction organic polymer that functions similarly to natural cartilage an...
