Wright has been marketing AM Surgical’s foot and ankle products since October 2007 pursuant to a previously announced distribution agreement between the parties.
The purchase consists of an initial cash payment of $2.1 million and potential additional cash payments, not to exceed $700,000, based upon future financial performance of the acquired assets.
Assets acquired include all of AM Surgical’s endoscopic soft tissue release products for the foot and ankle market, which consist of the AM plantar fascia release (EPF), AM interdigital nerve decompression (UDIN) and AM gastrocnemius release (EGR) systems. These three systems address the decompression and soft tissue release procedures most commonly performed by foot and ankle surgeons.
Wright will continue to offer the AM foot and ankle tissue release systems through its US sales force, as it has since October 2007, and expects to begin commercialization into certain international markets during 2009.
John Treace, vice president of marketing for Wright’s extremity products, said: “The AM Surgical product line is highly complementary to our industry leading line of reconstructive and biologic products for flatfoot corrective surgery. We are very pleased that we have obtained definitive control of this innovative technology platform.”