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Home > Wright Medical begins buying up BioMimetic shares

Wright Medical begins buying up BioMimetic shares

Mass Device

Wright Medical Group picks up about 10 million shares of BioMimetic Therapeutics, for about a 36% stake, ahead of its planned merger next year.

Wright Medical begins BioMimetic Therapeutics merger

Wright Medical [1] (NSDQ:WMGI [2]) began buying up shares of BioMimetic Therapeutics [3] (NSDQ:BMTI [4]), taking out a 36% stake in the regenerative medicine company, according to a regulatory filing.

Wright agreed last week to pay up to $390 million in cash, stock and milestone payments for BMTI, saying it plans to use the acquisition to bolster its foot and ankle healing business.

The Arlington, Tenn.-based medical device company now owns some 10.2 million shares of BioMimetic, according to the filing [5].

Source URL (retrieved on 05/24/2013 - 11:02pm): http://www.mdtmag.com/news/2012/11/wright-medical-begins-buying-biomimetic-shares?qt-most_popular=0

Links:
[1] http://www.massdevice.com/company/wright-medical-group-inc
[2] http://www.google.com/finance?q=wmgi
[3] http://www.massdevice.com/company/biomimetic-therapeutics-inc
[4] http://www.google.com/finance?q=NASDAQ:BMTI
[5] http://www.sec.gov/Archives/edgar/data/1137861/000119312512485852/d446435dsc13d.htm