ArthroCare, a US-based surgical devices, instruments, and implants manufacturer, has completed the purchase of ENTrigue Surgical, a privately held Delaware firm, in an all-cash deal of $45m.
ENTrigue is involved in the designing and developing of implants, disposables and instruments for endoscopic sinus surgery including balloon dilation.
As per the terms of the agreement, following the merger, the shareholders of ENTrigue will receive a specific amount as consideration for the next five years on every closing anniversary.
This amount will, however, depend on the rise in the net sales of ENTrigue products every year.
ENTrigue will now operate under ArthroCare’s ENT product division and its products will complement ArthroCare’s s Coblation and Rapid Rhino product lines, which are used worldover by ENT surgeons.
Piper Jaffray served as financial advisor while DLA Piper acted as legal advisor to ArthroCare. J.P. Morgan Securities served as financial advisor and Norton Rose Fulbright as legal advisor to ENTrigue in the deal.