Prior to the acquisition, Wound Management Technologies and The Catalyst Group’s CGI Cellerate RX affiliate had owned equal shares in the spun-out company.
The Cellerate JV maintains an exclusive sublicense to distribute the CellerateRX activated collagen adjuvant into wound care markets in the U.S., Canada and Mexico.
Fort Worth, Texas.-based Wound Management Tech said that Cellerate will now act as a wholly owned subsidiary and will report its financial results on a consolidated basis beginning March 15.
The deal was funded by the issuance of approximately 1.1 million shares of Wound Management Tech’s Series F convertible preferred stock, the company said. Each share of Series F preferred stock can be converted at any time into 200 shares of common stock, according to an SEC filing.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.