Four insights:
1. Montagu will acquire the OEM business, which develops biologic, metal and synthetic implants, for $480 million in cash and $10 million in certain other consideration.
2. RTI Surgical plans to use the capital to become debt free and bolster its spine portfolio with up to $200 million in cash to help achieve double-digit growth.
3. The deal was unanimously approved by the company’s board of directors.
4. Pending regulatory and shareholder approval, the transaction is set to close in the first half of 2020.
More articles on devices:
Dr. Hugh Bassewitz predicts more spine surgeons migrating to robotic technology
Planned $240M University of Rochester facility to provide spine, orthopedic care
Alphatec 2019 revenue hits $113M: 5 things to know
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