Anika Therapeutics to buy two med firms for up to $195M

Anika Therapeutics (ANIK +4.6%) agrees to acquire Parcus Medical, a privately-held sports medicine company, for an upfront payment of ~$35M and contingent payment of $60M

Concurrently, agrees to acquire Arthrosurface, a privately-held provider of joint surface and preservation solutions for active patients for an upfront of $60M and additional milestone payment of $40M.

For 2019, Parcus Medical and Arthrosurface is expected to generate revenues of ~$12M – $13M and ~$28M – $30M, respectively.

Anika anticipates both acquisitions will close in Q1 2020

https://seekingalpha.com/news/3529804-anika-therapeutics-to-buy-two-med-firms-for-up-to-195m