Anika Closes Divestiture Of Its Arthrosurface Business And Intention To Divest Of Parcus Medical Business
Portfolio Pulse from Benzinga Newsdesk
Anika Therapeutics has completed the sale of its Arthrosurface business to Phoenix Brio, Incorporated for $10 million, including a $7 million promissory note and up to $3 million based on sales performance. Anika also plans to divest its Parcus Medical business.
October 31, 2024 | 11:10 am
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Anika Therapeutics has sold its Arthrosurface business for $10 million, with a $7 million promissory note and potential $3 million based on sales. The company also plans to divest its Parcus Medical business.
The divestiture of Arthrosurface provides Anika with a $10 million consideration, which could positively impact its financials. The planned divestiture of Parcus Medical indicates a strategic shift, potentially improving focus and efficiency.
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