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Encore Medical to Acquire BioHorizons Implant Systems, Inc.

Publication: PR Newswire
Publication Date: 18-MAY-04 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Acquisition to be Accretive and Expand Surgical Implant Product Offering

Encore Medical Corporation today announced that it has entered into a definitive agreement to acquire BioHorizons Implant Systems, Inc., a company that designs and distributes a broad line of dental implants and oral reconstructive products.

Under the terms of the agreement, Encore will acquire all of the outstanding common stock of BioHorizons for $5.2 million in cash and approximately 2.6 million shares of Encore common stock, representing a total current acquisition value of approximately $26 million. As a result, the current shareholders of BioHorizons will own approximately 6% of the outstanding stock of Encore after the transaction. There are also up to $10 million in future milestone payments that could be earned by, and paid to, the stockholders of BioHorizons, based on the performance of the acquired company through the year 2006. The merger is subject to the satisfaction of a number of conditions, including the...

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