Wright Buys French Extremities Device Firm For $75 Million Upfront

Wright Medical Group NV plans to acquire Biotech International, a privately held French orthopedic extremities company, for $75 million plus up to $5 million in milestone payments. The Oct. 16 acquisition announcement comes several months after Wright tied its future to the extremities market by selling off its hip and knee business. (See Also see "Wright, MicroPort Deal Signals Shifts In Global Ortho Industry" - Medtech Insight, 24 June, 2013..)

The deal is intended to provide Wright with a complementary extremity product portfolio and to significantly expand Wright’s direct sales...