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Alachua, Fla.-based RTI Biologics will purchase Pioneer Surgical Technology and pay at least $130 million for the company's stock.
Share prices for orthopedic and spine device companies have been on the downturn since last weekend, when the Centers for Medicare and Medicaid Services released a new pre-reimbursement review project, according to a Mass Device report.
Several of the large orthopedic device companies experienced nearly a three dollar decrease in stock prices between opening on Tuesday, Aug. 2 through Tuesday, Aug. 9.