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VOL. 129 | NO. 21 | Friday, January 31, 2014

Wright Acquires Solana Surgical, Enters Deal for OrthoPro

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Arlington-based Wright Medical Group Inc. has closed on its agreement to acquire Solana Surgical LLC of Memphis and has entered into a definitive agreement to acquire OrthoPro LLC of Salt Lake City.

Under the terms of the Solana acquisition, Wright acquires all of Solana’s outstanding equity for about $90 million, consisting of $47.6 million in cash and $42.4 in Wright common stock.

The same basic arrangement applies to OrthoPro for $36 million in cash, with $32.5 million paid at closing and up to $3.5 million more in cash contingent on revenue milestones included in the agreement.

The OrthoPro agreement is expected to close in a year, according to a statement from Wright released Thursday, Jan. 30, after the close of trading.

Both companies add to Wright’s foot and ankle portfolio, increasing the company’s focus on the surgical podiatric market.

Wright Medical executives are expected to provide more details about the acquisitions, as well as what the coming integration will mean for Wright’s relocation from Arlington to Memphis, during the company’s Feb. 24 earnings conference call.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 70 125 13,455
MORTGAGES 119 192 17,541
FORECLOSURE NOTICES 19 51 3,442
BUILDING PERMITS 146 769 31,699
BANKRUPTCIES 62 128 12,823
BUSINESS LICENSES 40 51 4,648
UTILITY CONNECTIONS 80 233 19,690
MARRIAGE LICENSES 25 69 4,129

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