Biorez, Inc.

Canaccord Genuity Acts as Financial Advisor to Biorez, Inc. on its Sale to CONMED Corporation

Canaccord Genuity is pleased to announce that on August 1, 2022, CONMED Corporation (NYSE:CNMD) signed a definitive agreement to acquire privately held Biorez, Inc. (“Biorez” or the “Company”) for up to $250 million on a cash-free, debt-free basis, including cash consideration of $85 million at closing, subject to adjustment, and up to an additional $165 million in growth-based earnout payments over a four-year period. The transaction closed August 9, 2022. 

Canaccord Genuity acted as financial advisor to Biorez and its Board of Directors in connection with the transaction.

Biorez develops the BioBrace™ implant, a bioinductive scaffold technology designed to stabilize a surgical repair while the body regenerates its own musculoskeletal tissue to accelerate physical rehabilitation and soft tissue healing. The implant is intended to reinforce soft tissue where weakness exists, providing supplemental strength for approximately two years before naturally resorbing. 

CONMED is a publicly traded medical technology company that provides devices and equipment for surgical procedures. The Company’s products are used by surgeons and other healthcare professionals in a variety of specialties including orthopedics, general surgery, gynecology, thoracic surgery and gastroenterology.