Anika Therapeutics Closes Acquisition of Parcus Medical

Anika Therapeutics, Inc. (NASDAQ: ANIK), a global, integrated joint preservation and regenerative therapies company with products leveraging its proprietary hyaluronic acid (HA) technology platform, announced Friday it has closed its acquisition of Parcus Medical, a leading, privately held sports medicine company. Under the previously disclosed terms of the agreement, Anika acquired all outstanding membership interests of Parcus Medical in exchange for an upfront payment of approximately $35 million in cash from the company’s existing balance sheet, subject to customary closing adjustments. Parcus Medical unitholders will be eligible to receive an additional $60 million contingent upon the achievement of certain commercial milestones.

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