Wright Medical Group, based in Memphis, Tenn., will acquire Biotech International for $75 million, according to a Memphis Business Journal report. Biotech is a French orthopedic device manufacturer that focuses on foot and ankle implants. The acquisition will allow Wright Medical to greatly expand its French presence and add to its portfolio.
The deal was made for $55 million in cash and $20 million in common stock. If Biotech meets specific 2014 and 2015 milestones, it can qualify for another $5 million in cash.
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