Regeneration, Tutogen combine to form RTI Biologics

By Lisa Kerner

Charlotte, N.C., Feb. 27 - Shareholders of both Regeneration Technologies, Inc. and Tutogen Medical, Inc. approved the merger of the two companies at separate special meetings on Wednesday.

The newly combined company is known as RTI Biologics, Inc. and its stock will continue to trade on the Nasdaq Global Market under Regeneration's symbol "RTIX."

In addition to its headquarters location in Alachua, Fla., RTI Biologics has an international processing facility in Neunkirchen, Germany, and a distribution office in Boulogne, France.

RTI Biologics prepares human donated tissue and bovine tissue for transplantation. The allograft (human) and xenograft (animal) implants are used in orthopedic, dental, hernia and other specialty surgeries.

Brian K. Hutchinson will lead RTI Biologics as chairman and chief executive officer.

Regeneration and Tutogen announced on Nov. 13 a definitive agreement to combine the two companies in a tax-free, stock-for-stock exchange valued at $205 million.

Under the terms of the merger agreement, Tutogen shareholders will receive 1.22 shares of newly issued RTI Biologics common stock in exchange for each share of Tutogen common stock they own.

Tutogen manufactures sterile biological implant products made from human and animal tissue.

Regeneration processes human and animal tissue into shaped implants for use in orthopedic and other surgeries. Both companies are based in Alachua, Fla.

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