Implant developer RTI Biologics (RTIX -1%) acquires privately held Pioneer Surgical Technology, a medical technology company that manufactures and distributes metal and synthetic products in the orthopedics, biologics, spine, trauma and cardiothoracic markets, for $130M in cash. The transaction will be funded through a combination of cash on hand, a new credit facility and a concurrent private placement of convertible preferred equity from Water Street Healthcare Partners.
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