Wright Medical To Acquire Cartiva For Great Toe Damage Treatment [Seeking Alpha]
WRIGHT MEDICAL GROUP NV (WMGI)
Last wright medical group nv earnings: 2/24 05:04 pm
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US:NASDAQ Investor Relations:
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Source: Seeking Alpha
Summary Quick Take Wright Medical Group ( WMGI ) has announced it has agreed to acquire Cartiva for $435 million. Cartiva develops cartilage injury and osteoarthritis treatment products. WMGI is paying a reasonable price for Cartiva’s fast-growing and easy-to-sell implant product. Target Company Alpharetta, Georgia,-based Cartiva was founded in 2011 to improve the quality of life for patients with osteoarthritis or cartilage damage through the development of novel medical device treatments. Cartiva’s lead product, a Synthetic Cartilage Implant (SCI) for treating arthritis at the base of the great toe, received U.S. Premarket Approval in July 2016. Management is headed by Co-Founder, President and CEO Timothy Patrick , who previously founded Carticept Medical. Investors have invested a total disclosed $24.3 million in the company and include New Enterprise Associates, Windham Venture Partners, and Silicon Valley Bank. (Source:
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