Joint preservation and regenerative therapies company Anika Therapeutics acquired a pair of companies in the orthopedic space.
What you should know:
1. Anika will acquire Parcus Medical, a sports medicine company, and Arthrosurface, a joint surface and preservation solutions company.
2. Anika President and CEO Joseph Darling said the acquisitions will enhance the company's commercial capabilities and infrastructure.
3. Parcus Medical will give Anika access to the ambulatory surgery center market, which could lead to new revenue streams. Anika is acquiring all membership interests for $35 million with $60 million in potential incentives.
4. Arthrosurface has an established product platform and a direct-hybrid sales model. Anika is acquiring Arthrosurface for $60 million with $40 million in potential incentives.
5. Anika expects the deals to close in the first quarter of 2020.
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