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Generex Biotechnology to Acquire Surgical Device Manufacturer Pantheon Medical Foot and Ankle
Friday 11 January 2019

11 January 2019 - US-based healthcare holdings company Generex biotechnology Corp. (OTCQB: GNBT) has entered into a letter of intent to acquire specialty orthopedic surgery products and tools manufacturer Pantheon Medical Foot and Ankle, the company said.

Under the terms of the deal, Generex will acquire all of the assets of Pantheon Medical including business operations, accounts receivable and inventory, contracts, and an FDA letter related to balanced plating system, on a debt free basis, for USD 1.4m worth of Generex stock, plus additional cash and stock consideration upon achieving certain sales and profit goals.

Pantheon Medical Foot and Ankle is a company that began operations in 2014 with a physician friendly, "all-in-one," integrated kit that includes plates, screws, and tools required for orthopedic surgeons and podiatrists conducting foot and ankle surgeries.

Over the next three years, the company will be developing and submitting several new product lines to the FDA which will include cannulated surgical screws and surgical staples, as well as a proprietary Hammertoe System.

Generex biotechnology is an integrated healthcare holding company with end-to-end solutions for patient centric care from rapid diagnosis through delivery of personalised therapies.
Date Published: 11/01/2019
Target: Pantheon Medical Foot and Ankle
Country: USA
Deal Size: 1.4m (USD)
Sector: Healthcare
Type: Corporate acquisition
Financing: Stock
Status: Agreed
Buyer: Generex biotechnology