FDAnews Device Daily Bulletin

Wright Medical Acquiring Solana Surgical & OrthoPro

Feb. 3, 2014

Wright Medical is adding complementary foot and ankle products to its portfolio via the purchases of Solana Surgical and OrthoPro. The acquisitions will accelerate growth of Wright’s extremities business and increase its focus on the surgical podiatric market, the company said.

In buying Solana, Wright gains access to its nitinol staple, allograft hammertoe/intramedullary nail, metatarsal decompression implant and novel plating system. The price tag for the Memphis devicemaker: $47.6 million in case and about $42.4 million in Wright common stock.

OrthoPro’s products include a cannulated hammertoe – gap filler, metal hemi great toe implant and a new plating system set to launch this year. Wright will pay $36 million for the Salt Lake City company — $32.5 million at closing and $3.5 million upon reaching revenue-based milestones, the company said.

“These two companies bring a suite of really innovative products to help expand our current product portfolio and add products to treat hammertoes,” said Wright spokeswoman Julie Tracy. “It really adds foot and ankle products to accelerate opportunities in our global business.”

Wright makes a wide range of orthopedic products, including the Allopure allograft bone wedges, the Osteoset resorbable mini-bead kit and the Biotape XM reinforcement matrix.

The purchase of Solana was completed Thursday. The OrthoPro deal is set to close this month. — Lena Freund

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