Monday, January 11, 2016
MiMedx Group Inc finalized a deal Sunday to acquire Stability Biologics for $10 million in cash and stock.
The regenerative medicine company MiMedx said the acquisition of Stability Biologics, a provider of human tissue and bone graft products, adds a new sales channel and roughly 100 salespeople to the company.
MiMedx will pay $10 million for the company, a deal comprised of 60 percent cash and 40 percent stock. Once finalized, Stability Biologics will be a wholly owned subsidiary of MiMedx.
MiMedx said it expects the transaction to be accretive to full year adjusted EPS in 2016, and it revised its expected annual revenue to $260 to $270 million.
First quarter earnings this year are expected to range from$55.5 million to $58 million.
Projected earnings per share were revised to $0.33 to $0.37.
reuters.com
