- Entellus Medical (NASDAQ:ENTL) announces that it has entered into an agreement to acquire Spirox, Inc., a privately-held ENT medical technology company manufacturing the LATERA Absorbable Nasal Implant, a minimally invasive option for ENTs and facial plastic surgeons to treat nasal airway obstruction.
- Under the terms of the agreement, Entellus has agreed to acquire Spirox for $25M in cash and 3.4M shares of Entellus common stock, plus additional contingent payments over four years.
- The transaction is expected to close early in Q3.
- Preliminary Q2 revenue & FY2017 revenue guidance is as follows:
- Q2 revenue is expected to be $21.9M to $22.1M.
- The company also updated its FY2017 revenue guidance of $91.5M to $94.5M compared to previous guidance of $86M to $89M.
- The company plans to provide Q2 results and issue Q3 and FY2017 guidance in early August 2017.
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