aibioAnika Therapeutics completes sale of Parcus Medical to Medacta Group
Tickers ANIK
The deal closed on March 7, 2025 for an undisclosed amount, paid in cash at closing. Anika will now focus on hyaluronic acid pain products and regenerative solutions.
Key facts
- Company
- Anika Therapeutics, Inc. (NASDAQ: ANIK)
- News type
- Mergers
- Primary source
- Anika Therapeutics, Inc. 8-K (2025-03-11)
Anika Therapeutics, Inc. completed the previously announced sale of its Parcus Medical business to Medacta Group SA on March 7, 2025.
The amount was not disclosed. The company said in a press release that total cash consideration was received at closing, subject to customary post-closing adjustments.
The divestiture is part of a strategic review Anika announced earlier. With Parcus sold, the company said it will focus on its core hyaluronic acid technology for osteoarthritis pain management and on its Regenerative Solutions portfolio.
"The sale of Parcus marks a critical step forward as we achieve the goals of our previously announced strategic review," said Cheryl R. Blanchard, Ph.D., president and chief executive officer.
Anika and Medacta agreed to work together on the transition of the business for employees, distributor agents, surgeon customers and patients.
Goodwin Procter served as legal counsel and Piper Sandler acted as exclusive financial advisor to Anika on the sale.