Conmed Corp. on Aug. 1 announced a definitive agreement to acquire Biorez, a startup focused on advancing the healing of soft tissue using its BioBrace implant technology.
The acquisition would include $85 million at closing and up to an additional $165 million in growth-based earnout payments over the next four years, Conmed said in a news release.
The BioBrace implant is an FDA-cleared bioinductive scaffold designed to reinforce soft tissue where weakness exists and facilitate healing, according to Biorez.
The transaction is expected to close this month.