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.
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