Medical device maker Wright Medical Group Inc. plans to buy BioMimetic Therapeutics Inc. in a $190 million cash-and-stock deal to help grow its foot and ankle business.

The companies said Monday the deal could grow to $380 million if some incentives are met.

Wright Medical, based in Arlington, Tenn., said it will pay $1.50 in cash and a portion of its stock for each share of BioMimetic. That totals $6.47 per share, based on Wright Medical's Friday closing price of $20.01.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.