Baxter International said it plans to acquire ApaTech, a London-based orthobiologic products firm, for up to $330 million. Baxter, a Deerfield, Ill.-based device manufacturer and pharmaceutical company, said it will purchase ApaTech’s outstanding equity through an upfront cash payment of $240 million, and additional payments of up to $90 million depending on sales milestones.
Baxter to acquire U.K.-based company
The deal will include Actifuse, a synthetic bone graft material on the market, and its manufacturing and research and development facilities in the U.K, U.S. and Germany, according to a news release.
The transaction, expected to close by the end of March, is subject to customary conditions and antitrust waiting periods.
"This is a significant step in enhancing Baxter's position in the rapidly growing orthobiologics space, and our leadership in regenerative medicine," said Ron Lloyd, vice president and general manager of BioTherapeutics and Regenerative Medicine at Baxter, in a statement.
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