Orthofix (NSDQ:OFIX) said yesterday that it closed the $105 million buyout of Spinal Kinetics and its M6 cervical disc implant, but cut its earnings outlook for the rest of the year despite higher-than-expected first-quarter results. The deal for Sunnyvale, Calif.-based Spinal Kinetics called for $45 million in up-front cash, plus another $65 million in milestones pegged to FDA approval of […]
Orthofix puts $105m on the table for Spinal Kinetics
Orthofix (NSDQ:OFIX) said yesterday that it put up to $105 million on the table to acquire Spinal Kinetics and its M6 cervical disc implant. Lewisville, Texas-based Orthofix said the deal calls for $45 million in up-front cash, plus another $65 million in milestones pegged to FDA approval of the M6 cervical device and trailing twelve-month sales targets […]
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