Under the terms of the merger agreement, Tutogen shareholders will receive 1.22 shares of newly issued RTI common stock in exchange for each share of Tutogen common stock they own. Effective immediately, the name of the newly combined company is RTI Biologics.
Brian Hutchison, chairman and CEO of RTI Biologics, said: “RTI Biologics is now positioned as the leading provider of sterile biologic solutions for patients around the world, with a diverse mix of implants and distributors. Our entire senior management team is enthusiastic about the many opportunities this merger brings to our combined company.”