» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 129 | NO. 21 | Friday, January 31, 2014

Wright Acquires Solana Surgical, Enters Deal for OrthoPro

Print | Front Page | Email this story | Comments ()

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.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 58 58 15,010
MORTGAGES 85 85 19,005
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 100 100 32,316
BANKRUPTCIES 59 59 11,205
BUSINESS LICENSES 24 24 4,835
UTILITY CONNECTIONS 0 0 18,230
MARRIAGE LICENSES 42 42 4,028

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.