On July 16, 2013, RTI Biologics Inc. (RTI) (Nasdaq: RTIX), a leading provider of orthopedic and other biologic implants, announced that the acquisition of Pioneer® Surgical Technology (Pioneer) is complete.
Effective immediately, the new name of the company is RTI Surgical Inc. The company’s worldwide headquarters will be in Alachua, Fla. and the stock will continue to trade on the Nasdaq Global Market under the symbol RTIX.
"The acquisition of Pioneer supports RTI's strategic initiatives to expand our current implant portfolio into metals and synthetics and to grow direct distribution," said Brian K. Hutchison, president and CEO of RTI Surgical. "RTI Surgical is now positioned for growth as a global surgical implant company providing orthopedic and biologic implant solutions for surgeons and patients around the world. We are excited about the many opportunities this acquisition brings to the company."
1Cash earnings per share excludes one-time transaction expenses and integration costs, GAAP inventory write-up, amortization of acquired intangibles and amortization of financing fees.
RTI Biologics hosted a conference call and webcast to announce the acquisition agreement on Wed., June 12, 2013 at 8:30 a.m. EDT. Listen to the replay.