Bacterin Signs Agreement to Acquire U.S. Tissue Center

Acquisition Accretive to Earnings, Provides Access to Spinal Allograft Market

16-Aug-2004

Bacterin International, Inc., a developer and manufacturer of elutive bioactive coatings for medical devices, has signed a Memorandum of Understanding to purchase the assets of U.S. Tissue Center, a supplier of spinal, skin and traditional grafts. U.S. Tissue Center, a spinout of the University of Utah, is an accredited tissue bank that is regulated by the U.S. food and Drug Administration. U.S. Tissue Center is profitable and will be accretive to Bacterin's earnings.

U.S. Tissue Center's assets include a 35,000 square foot facility in Salt Lake City, Utah, with state-of-the-art clean rooms and tissue and cellular banks for storing tissue, cord blood and adult stem cells. Drs. Glen Warden and Jane Shelby, who serve on Bacterin's Scientific Advisory Board, are the Center's Chief Executive Officer and Director of Research and Development, respectively. The Center has contracts with hospitals, research centers and orthopedic device manufacturers nationwide to supply spinal and bone allografts and tissue for surgical procedures and research.

Guy Cook, President of Bacterin, said, "Not only will the acquisition boost our top and bottom lines, it will provide us access to the spinal allograft market, now totaling $600 million a year in the U.S. alone. The ability to add a bioactive coating to spinal allografts, in essence creating a 'smart' allograft, is what the market has been talking about for years. We believe our bioactive coating technology will enhance the overall performance of spinal allografts by directing the body to better incorporate implanted devices, thereby increasing fusion rates and reducing the need for costly revisions, or even rejection of the allograft bone.

https://www.bionity.com/en/news/39090/bacterin-signs-agreement-to-acquire-u-s-tissue-center.html