Wright Medical sells its entire hip & knee business for $290M cash

Wright Medical Group, Inc. and MicroPort Scientific Corporation Enter Into Definitive Agreement Under Which MicroPort Will Acquire Wright’s OrthoRecon Business (press release)
Wright Medical Group, Inc.(NASDAQ: WMGI) today announced a definitive agreement under which MicroPort Medical B.V., a subsidiary of MicroPort Scientific Corporation (HK: 0853), will acquire Wright’s OrthoRecon business. The purchase price is $290 million, subject to a net working capital adjustment, and is payable in cash at closing, which is expected to occur by the end of the third quarter or early in the fourth quarte...