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Date: 2010-03-01
Acquiring pharma company: Baxter (USA)
Acquired biotech company: ApaTech (UK)
Amount: up to $330 million (€243.6 million) The agreement includes an upfront cash payment of $240 million. Baxter may make additional payments of up to $90 million related to the achievement of sales milestones.
Terms of the agreement: Baxter International and ApaTech have announced a definitive agreement whereby Baxter will acquire all of the outstanding equity of ApaTech for total consideration of up to $330 million.
As a result of the acquisition, Baxter will acquire Actifuse, a silicate substituted calcium phosphate synthetic bone graft material, and manufacturing and R&D facilities located in the U.K., United States and Germany.
This acquisition allows Baxter to enhance its position in the orthobiologics space and in regenerative medicine, as Aspatech is a company specializing in synthetic bone repair materials for orthopedic and dental applications, and in the research and development of bone graft technologies.
Other: The transaction is expected to close in the first quarter 2010.