Cardo Medical, Inc. (CDOM.OB) Tuesday said its wholly-owned subsidiary, Cardo Medical, LLC, and Arthrex, Inc., a provider of sports medicine product development and educational services for orthopedic surgeons based in Naples, Florida, have signed an asset purchase agreement to sell all of Cardo's joint arthroplasty division, which comprise all of its hip and knee assets, to Arthrex.
Cardo plans to continue as a public company with its shares of common stock continuing to trade on the OTC Bulletin Board.
Cardo's and Arthrex's Board of Directors have approved and adopted the Asset Purchase Agreement and the transaction contemplated thereby.
Inverness Advisors, a division of KEMA Partners LLC, acted as exclusive financial advisor to Cardo Medical in this transaction.
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