Apparently MicroPort and Wright Medical (NSDQ:WMGI)
didn't get the memo – American med-tech companies are supposed to buy
Chinese med-tech companies and not the other way around. But in a
surprising announcement Wednesday night, the two companies revealed that
MicroPort has reached an agreement to acquire Wright Medical's
OrthoRecon business for $290 million in cash.
This is a bold move for both parties. It not only brings MicroPort
into the global hip and knee market, but also establishes a meaningful
presence for the company in the U.S. For Wright Medical, it removes a
significant amount of execution risk, and makes the company a pure-play
on the much faster-growing markets for orthopedic extremities and
biologics.
Please continue here:
http://www.massdevice.com/blogs/massdevice/microport-and-wright-medical-group-flip-script
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