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VOL. 128 | NO. 203 | Thursday, October 17, 2013

Wright Medical Buys French Biotech

By Bill Dries

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Memphis-based Wright Medical Group Inc. announced Wednesday, Oct. 16, it has an agreement to buy the French company Biotech International.

Biotech is a privately-held manufacturer of surgical implants and advanced fixation technologies that deal with fractures. In the case of Biotech, its devices are primarily in the extremities market. In this case, that market is for devices for feet and ankles in Europe.

Preliminary terms of the acquisition Wednesday were $75 million to be paid at closing of the deal with $55 million in cash and the remaining $20 million in Wright common stock.

The terms also include up to $5 million of cash if Biotech reaches agreed upon revenue goals in 2014 and 2015 once it is owned by Wright.

Biotech will spin off its dental business before closing which is anticipated by the end of this calendar year.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 76 133 9,499
MORTGAGES 89 164 11,910
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 161 403 21,081
BANKRUPTCIES 64 106 7,442
BUSINESS LICENSES 17 33 3,345
UTILITY CONNECTIONS 114 225 11,504
MARRIAGE LICENSES 25 53 2,656

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