Entellus Medical announces definitive agreement to acquire Spirox [Seeking Alpha]
ENTELLUS MEDICAL (ENTL)
Last entellus medical earnings: 11/1 04:05 pm
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Source: Seeking Alpha
Entellus Medical (NASDAQ: ENTL ) announces that it has entered into an agreement to acquire Spirox, Inc., a privately-held ENT medical technology company manufacturing the LATERA Absorbable Nasal Implant, a minimally invasive option for ENTs and facial plastic surgeons to treat nasal airway obstruction. Under the terms of the agreement, Entellus has agreed to acquire Spirox for $25M in cash and 3.4M shares of Entellus common stock, plus additional contingent payments over four years. The transaction is expected to close early in Q3. Preliminary Q2 revenue & FY2017 revenue guidance is as follows: Q2 revenue is expected to be $21.9M to $22.1M. The company also updated its FY2017 revenue guidance of $91.5M to $94.5M compared to previous guidance of $86M to $89M. The company plans to provide Q2 results and issue Q3 and FY2017 guidance in early August 2017. Now read: Analyst upgrades Arena ahead of Phase 2 readouts; shares up 4.8% premarket »
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