Wright Medical acquires surgery planning software dev IMASCAP SAS for $89m

Wright Medical (NSDQ:WMGI) said today it inked a deal to acquire shoulder replacement surgery preoperative planning software dev IMASCAP SAS in a deal worth $88.8 million (EU €75.1 million) Through the deal, Wright picked up 100% of IMASCAP’s outstanding equity on a fully diluted basis for a total of $88.8 million, consisting of $46.9 million (EU €39.7 million) in cash and $15.6 million (EU €13.2 million) of Wright shares, payable at closing, and $26.3 million (EU €22.2 million) in potential milestone or earn out payments. “Wright, and previously Tornier, has been involved with IMASCAP for many years with our Blueprint case planning software, and we have seen first-hand the innovation, creativity and differentiated solutions that the IMASCAP team has developed.  Software-enhanced solutions are the future, and with the acquisition of IMASCAP, we have the opportunity to take a significant lead in this area.  We are thrilled that we had an opportunity to acquire IMASCAP, which is the company that has developed the technology behind our Blueprint case planning software for our shoulder portfolio.  This is a highly differentiated, enabling technology for the shoulder and has a number of potential applications to enhance our Prophecy planning for ankles as well. While our Blueprint planning software is a significant differentiator today, IMASCAP has a rich pipeline of potential breakthrough technologies under development and patent-pending.  We believe the...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Mergers & Acquisitions Orthopedics Software / IT Surgical imascapsas wrightmedical Source Type: news