Treace Medical Concepts, Inc. completed the acquisition of certain assets of MIOS Marketing, LLC.
June 11, 2023
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Treace Medical Concepts, Inc. (NasdaqGS:TMCI) entered into an asset purchase agreement to acquire certain assets of MIOS Marketing, LLC for $30 million on June 1, 2023. As reported, the purchase price is $20 million in an upfront cash payment, with up to $10 million in potential milestone payments.
Treace Medical Concepts, Inc. (NasdaqGS:TMCI) completed the acquisition of certain assets of MIOS Marketing, LLC on June 12, 2023. At closing, TMCI paid RPM-3D $20.0 million in exchange for RPM-3D?s assets used in providing pre-operative planning and patient-specific guides for the surgical correction of foot and ankle deformities. Under the APA, TMCI is obligated to pay additional consideration of up to $10.0 million in cash upon completion of certain milestones as follows: $3.5 million upon completion of certain transition services at 12 months of the closing date, $3.5 million upon completion of certain technological advancement milestones within 12 months of the closing date, and, subject to prior completion of the transition services and the technological advancement milestones, up to $3.0 million upon the issuance of certain patent claims.
Treace Medical Concepts, Inc. is a medical technology company. The Company is focused on advancing the standard of care for the surgical management of bunion and related midfoot deformities. It has patented the Lapiplasty 3D Bunion Correction System a combination of instruments, implants, and surgical methods designed to surgically correct all three planes of the bunion deformity and secure the unstable joint, addressing the root cause of the bunion and helping patients get back to their active lifestyles. It also has Adductoplasty Midfoot Correction System, designed for reproducible surgical correction of the midfoot as well as its Hammertoe PEEK Fixation System designed to address hammertoe, claw toe and mallet toe deformities. The Lapiplasty, Adductoplasty and Hammertoe PEEK Fixation Systems are comprised of single-use implant kits and reusable instrument trays. The Company sells these products to physicians, surgeons, hospitals and ambulatory surgery centers in the United States.
TREACE MEDICAL CONCEPTS, INC. 
