Tissue Regenix closes $30m CellRight acquisition

Tissue Regenix (LON:TRX) said today it closed its $30 million (£23 million) acquisition of CellRight Technologies and its line of spinal surgery and orthopedic products. Leeds, England-based Tissue Regenix said it expects that the acquisition will increase its US sales by more than double while expanding the company’s presence in the US healthcare market. Tissue Regenix’s technology is designed to allow the body to regenerate tissue using a “scaffold” made of decellularized animal and human tissue. Tissue Regenix said that CellRight has developed technology for bone that is complementary to his firm’s soft-tissue-based platform. “The combination of TRX and CellRight Technologies is a crucial step in advancing our regenerative medicine capabilities for patients worldwide. CellRight’s team have exceptional talent and experience, and their regenerative technology is highly complementary to our own dCELL soft tissue platform. The benefits of the combined, broad portfolio of innovative soft tissue and bone products is clinically recognized. CellRight and TRX share a common goal and vision. Together, we can expedite and expand our research and development pipelines, increase our market presence both in the US and internationally and create more value for our stakeholders, both clinical and financial. I am pleased to welcome Jesus Hernandez and his team to the Tissue Regenix Group,” Tissue Regenix CEO Antony Odell said in a press release. T...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Mergers & Acquisitions Regenerative Medicine CellRight Technologies Tissue Regenix Source Type: news