Surgical instrument maker Dextera Surgical and B. Braun subsidiary Aesculap said yesterday that they closed the $17.3 million deal to buy Dextera out of Chapter 11 bankruptcy.
Redwood City, Calif.- based Dextera, formerly known as Cardica, agreed to the buyout in December 2017. The consummation Feb. 20 saw Dextera receive $13.6 million; another $2 million went into two-year escrow, $900,000 went to repay a loan from Aesculap and the balance was used to pay off contracts and leases and to settle closing expenses, according to a regulatory filing.
Aesculap said it plans to oversee operations in Redwood City, keeping Dextera’s products on the market as it looks to expand its footprint in the cardio-thoracic surgery market.
