(RTTNews) – Biomaterial-based productsmaker MiMedx Group Inc. (MDXG.OB:News ) Wednesday said that it has completed the previously announced purchase of Surgical Biologics, a developer of tissue processing techniques for creating implants for a variety of surgical indications from amnion membranes.
MiMedx also affirmed its previously announced expectations for the transaction to be accretive in 2011. Thecompany continues to project fiscal 2011 revenues to be generated from the Surgical Biologics processed tissue to be in the range of $7 million.
According to MiMedx, this transaction expands its innovative biomaterial offerings. Parker Petit, MiMedx’s Chief Executive Officer, said, “Combined with our HydroFix Vaso Shield and HydroFix Spine Shield products, the Surgical Biologics tissue implants give MiMedx a broader portfolio that immediately serves the demands and surgical preferences of practicingphysicians.”
Surgical Biologics will operate as a wholly owned subsidiary of MiMedx Group.
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by RTT Staff Writer
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