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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 31 327 17,870
MORTGAGES 49 409 20,835
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 129 800 36,616
BANKRUPTCIES 51 243 11,925
BUSINESS LICENSES 21 117 5,677
UTILITY CONNECTIONS 41 215 12,248
MARRIAGE LICENSES 29 121 4,478

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