American Medical Electronics
This article was originally published in The Gray Sheet
Executive Summary
Dallas-based manufacturer of bone healing products signs letter of intent to acquire Advanced Spine Fixation Systems. According to the terms of the agreement, AME will issue 2.5 mil. shares of its stock (worth about $20.6 mil. based on Aug. 22 closing price of 8-1/4 per share) in exchange for all outstanding shares of ASFS. Cypress, California-based ASFS, which had first half sales of about $4 mil., was going to be acquired by Wright Medical, but talks broke down ("The Gray Sheet" Aug. 15, In Brief). "The addition of the ASFS product lines...will allow the company to substantially broaden the products it offers to the worldwide spinal fixation market," AME says