Medical technology company Conmed is acquiring orthopedic devicemaker In2Bones for $145 million.
"This acquisition is a natural strategic extension of our orthopedic portfolio," Conmed's President and CEO Curt Hartman said in a news release. "In2Bones is an exciting platform for Conmed to enter the extremities market given its broad portfolio, extensive sales channel and experienced leadership team. We look forward to welcoming the In2Bones team to Conmed."
Conmed said May 4 that the deal includes up to an additional $110 million in growth-based earnout payments over a four-year period. It is not subject to a financing condition but does require U.S. regulatory approval.
If it's approved, the deal is expected to close in the late second or early third quarter.