BioRez has raised $26.4M to date according to Crunchbase.
CONMED Announces Definitive Agreement to Acquire Biorez, Inc. (press release)
CONMED Corporation (NYSE: CNMD) today announced a definitive agreement to acquire privately held Biorez, Inc. (Biorez), on a cash-free, debt-free basis, for cash consideration of $85 million at closing, subject to adjustment, and up to an additional $165 million in growth-based earnout payments over a four-year period. The transaction is expected to be financed through the company's existing credit facility. The transaction is expected to close in early August 2022.
“Kevin and his team have created an extraordinary biomedical device that can improve the standard of care in sports medicine procedures”
Biorez is a medical device start-up based in New Haven, CT and is focused on advancing the healing of soft tissue using its proprietary BioBrace® Implant technology. The BioBrace implant is an innovative bioinductive scaffold that is intended to reinforce soft tissue where weakness exists and facilitate healing. BioBrace® is cleared for use by the FDA in multiple product sizes.
“The addition of Biorez and its BioBrace® platform repre...
