CONMED Completes Acquisition of In2Bones Global, Inc.
June 13 2022 - 4:05PM
Business Wire
CONMED Corporation (NYSE: CNMD) today announced that it
has completed its previously announced acquisition of
privately-held In2Bones Global Inc.
Headquartered in Memphis, Tennessee, In2Bones is a global
developer, manufacturer, and distributor of medical devices for the
treatment of disorders and injuries of the upper (hand, wrist,
elbow) and lower (foot and ankle) extremities. The company’s
comprehensive product portfolio includes implants, fracture
systems, biologics, and related hardware.
The transaction is being financed through a combination of the
net proceeds of the Company’s 2.25% convertible notes, which were
issued on June 6, 2022, borrowings under the Company’s amended and
restated credit facility, and cash on hand. The Company will
provide additional guidance regarding the impact of the transaction
on 2022 financial results when it reports second quarter financial
results in late July.
About CONMED Corporation
CONMED is a medical technology company that provides surgical
devices and equipment for minimally invasive procedures. The
Company’s products are used by surgeons and physicians in a variety
of specialties, including orthopedics, general surgery, gynecology,
thoracic surgery, and gastroenterology. For more information, visit
www.conmed.com.
About In2Bones Global, Inc.
Headquartered in Memphis, Tennessee, In2Bones is a global
developer manufacturer and distributor of medical devices for the
treatment of disorders and injuries of the upper (hand, wrist,
elbow) and lower (foot and ankle) extremities.
Forward-Looking Statements
This press release may contain forward-looking statements based
on certain assumptions and contingencies that involve risks and
uncertainties, which could cause actual results, performance, or
trends to differ materially from those expressed in the
forward-looking statements herein or in previous disclosures. For
example, in addition to general industry and economic conditions,
factors that could cause actual results to differ materially from
those in the forward-looking statements may include, but are not
limited to, the risks posed to the Company’s business, financial
condition, and results of operations by the COVID-19 global
pandemic and the various government responses to the pandemic,
including deferral of surgeries, reductions in hospital and
ambulatory surgery center operating volumes, disruption to
potential supply chain reliability; the ability of the Company to
advance In2Bones Global, Inc.’s product lines, the potential
effects of the acquisition on relationships with employees,
customers, other business partners or governmental entities; any
assumptions underlying any of the foregoing as well as the risk
factors discussed in the Company's Annual Report on Form 10-K for
the full year ended December 31, 2021 and in the Form 10-Q for the
most recently completed quarter and in the current report on the
Form 8-K filed on May 5, 2022. Any and all forward-looking
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 and relate to the
Company’s performance on a going-forward basis. The Company
believes that all forward-looking statements made by it have a
reasonable basis, but there can be no assurance that management’s
expectations, beliefs or projections as expressed in the
forward-looking statements will actually occur or prove to be
correct.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
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version on businesswire.com: https://www.businesswire.com/news/home/20220613005784/en/
Todd Garner Chief Financial Officer 727-214-2975
ToddGarner@conmed.com
CONMED (NYSE:CNMD)
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