The Goodwin Life Sciences team advised Anika Therapeutics, Inc. (NASDAQ: ANIK) (“Anika”) on the divestiture of its Arthrosurface business, as part of the Anika’s ongoing company-wide strategic review. Anika received consideration of $10 million in the form of a ten-year non-interest-bearing promissory note for $7 million, and an estimated $3 million of additional consideration subject to the sales performance of Arthrosurface. The consideration is subject to customary post-closing adjustments. Anika and the buyer agreed to provide certain support services through early 2025.
Anika Therapeutics is a global joint preservation company that creates and delivers meaningful advancements in early intervention orthopedic care. Leveraging their core expertise in hyaluronic acid and implant solutions, they partner with clinicians to provide minimally invasive products that restore active living for people around the world. Anika’s focus is on high opportunity spaces within orthopedics, including Osteoarthritis Pain Management, Regenerative Solutions, and Sports Medicine, and their products are efficiently delivered in key sites of care, including ambulatory surgery centers. Anika’s global operations are headquartered outside of Boston, Massachusetts.
The deal team was led by Mayan Katz and Larissa Pinho, and included Ana Carolina Gentil Zattar, Daniela Sanchez, Andrew Cheng, Jacob Frank, Jason Lawrence, Scott Bluni, Beni Surpin, Xiaowei Wu, Alex Apostolopoulos, Gregg Coughlin, Tyler Mayo, Steven Tjoe, Matt Wetzel, Heath Ingram, Alexandra Denniston, Sarah Bock, Andre Amorim, Tim Holahan, Brendan Lally-McGurl, Adam Johnson, and Brittany Morreale, with assistance from Libby Sousa and paralegals Amy Arnelle and Keith Janowitz.
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