Wright Medical Group NV completed the $435 million acquisition of privately held medical device company Cartiva Inc.
The deal was an all-cash transaction funded by a public offering of common shares conducted by the Amsterdam-based company in August.
Alpharetta, Ga.-based Cartiva develops and sells devices focused on the treatment of degenerative joint disease or osteoarthritis.
With the acquisition, Wright Medical adds Cartiva's lead product, a synthetic cartilage implant for treating arthritis of the big toe, to its existing portfolio.
"With approximately 120,000 procedures for great toe arthritis performed each year in the U.S., we believe that this technology provides a proven alternative to fusion that reduces joint pain without sacrificing the foot’s natural movement and retains mobility and range of motion," Wright Medical President and CEO Robert Palmisano said in a statement.