Please call us at

Surgical implant maker to buy Michigan company for $130M

RTI Biologics has announced its intent to acquire Michigan's Pioneer Surgical Technology, a move RTI says will significantly expand its selection of surgical implants and distribution network. The firm's CEO and president explained that the merger will allow the combined entity to grow and prosper more quickly and effectively than would be possible by either company alone. He noted that Pioneer's presence across the United States and Europe will be especially beneficial when RTI introduces a new type of bone graft in coming months.

RTI will pay $130 million for Pioneer, acquiring its 110,000 square foot machine shop in Michigan, a factory in another state and approximately 300 employees. The combined company will employ a total workforce of around 1,100 employees. The merged firm will also adopt a new name, though either party has yet to confirm what that name will be. RTI is currently traded under the symbol RTIX on the Nasdaq stock market, where its price increased by about $0.04 per share following the recent announcement of the deal. RTI will pay for the deal using cash on hand, private equity and around $80 million in credit from several banks.

The merger will follow a record-breaking annual revenues of $178.1 million in 2012 for RTI. The company has grown rapidly since its initial public offering in 2000 and $205 merger with Tutogen Medical in 2008. The firm began construction of a new 41,000 square foot laboratory and office complex at the beginning of 2013, a project with a projected price tag of $14 million.

Pioneer has seen similar growth, reporting 12 percent average yearly increase in revenue over a three-year period and $88 million in sales last year. It specializes in cardiothoracic, spine, trauma and biologics implants.

Large-scale mergers and acquisitions often involve complex legal negotiations, making it crucial for any firm planning on participating in such a deal to consult with a qualified attorney specializing in business or commercial law.

Source:, "RTI Biologics buying Michigan manufacturer in $130M deal" Anthony Clark, Jun. 12, 2013

Email Us For A Response

Need Legal Advice?

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Farmington Hills Office
200 Kaufman Financial Center
30833 Northwestern Hwy.
Farmington Hills, MI 48334

Phone: 248-626-5000

Maps & Directions