Globus Medical announced recently that it has acquired Transplant Technologies of Texas.
Under the acquisition, Globus plans to maintain Transplant Technologies of Texas’ (TTOT) current relationships with distribution partners as well as its Texas-based operations. Globus also plans to leverage and grow TTOT’s product portfolio in an effort to bring new tissue-based products to the market, according to a company press release.
The acquisition is expected to contribute approximately $12 million in annual sales to Globus’ earnings, with a neutral impact on fully diluted earnings per share for the year. Additionally, Globus anticipates the transaction will result in approximately $2 million in additional sales and will be neutral to 2014 Q4 fully diluted earnings per share, according to the release.
Additional details regarding the acquisition were slated to be released during a conference call on Oct. 30.