Medartis Holding AG completed the acquisition of Nextremity Solutions, Inc.
May 02, 2022
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Medartis Holding AG (SWX:MED) signed an agreement to acquire Nextremity Solutions, Inc. for $70 million on March 7, 2022. The consideration consist of $40 million at closing, the purchase agreement includes milestone and earn-out payments of up to $30 million linked to the success of product launches. The initial cash consideration can be financed from existing cash resources and future cash flow. Additional financing options are also being examined. Top management and other key employees will be retained. The transaction is expected to be completed in the first-half of 2022. From 2025 onwards, the transaction will have a positive effect on Medartis profitability. J. D. Weinberg, Patrick Manchester, Tommy Lopez, Alison Sikes, Brad Schupack, Jenna Wallace, Michael Chittenden, Brady McDaniel, James Damon, Van Ellis and Yan Wang, Matt Gehl, Greg Discher, Ansgar Simon, Thomas Brugato, Tyler Evans of Covington & Burling LLP acted as legal advisors to Medartis Holding AG (SWX:MED).
Medartis Holding AG (SWX:MED) completed the acquisition of Nextremity Solutions, Inc. on May 3, 2022. As part of the deal, Rod K. Mayer is appointed President of Medartis US as a non-executive member while Lisa C. Thompson has decided to resign following the successful reorganization of the US business and the acquisition of Nextremity Solutions.
Medartis Holding AG is a Switzerland-based holding company of the Medartis Group, which is engaged in manufacturing medical devices and implants. The Group develops, manufactures and distributes to surgeons, hospitals and medical centers titanium screws, plates, surgical instruments and system solutions for internal fracture fixation. Medartis AG, the Company's wholly-owned subsidiary, has developed such technologies as TriLock for locking the screw into the plate, SpeedTip, a screw that does not require pre-drilling, and HexaDrive self-holding screw and screw-driver. It has two product lines. The APTUS product line comprises upper and lower extremities products for hand, wrist, elbow, shoulder and foot fixation. The MODUS line combines products dedicated to cranio-maxillofacial (CMF) surgery. The Group's products are sold globally in more than 30 countries, including Germany and the United States, either directly through its sales subsidiaries, or through third-party distributors.
MEDARTIS HOLDING AG 
