Generex acquires Pantheon Medical Foot & Ankle, terms not disclosed
Generex Biotechnology Corporation announced that the company has completed the acquisition of Pantheon Medical - Foot & Ankle, a manufacturer of specialty orthopedic surgery products and tools. Under the terms of the deal, Generex will acquire all of the assets of Pantheon Medical including business operations, accounts receivable and inventory, contracts, real estate, and an FDA letter related to balanced plating system, on a debt free basis, in a non-cash transaction with Generex stock, plus additional cash and stock consideration upon achieving certain sales and profit goals. Pantheon Medical - Foot & Ankle is a multi-million dollar 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.