Brief: Conmed Agrees To Acquire Biorez For Cash Consideration Of $85 Mln

Conmed

01/08/2022 21:27

Aug 1 (Reuters) - Conmed Corp  CNMD.N :
    * CONMED ANNOUNCES DEFINITIVE AGREEMENT TO ACQUIRE BIOREZ,
INC.
    * PROPOSED DEAL FOR CASH CONSIDERATION OF $85 MILLION AT
CLOSING
    * PROPOSED DEAL INCLUDES UP TO ADDITIONAL $165 MILLION IN
GROWTH-BASED EARNOUT PAYMENTS OVER A FOUR-YEAR PERIOD
    * PROPOSED DEAL EXPECTED TO BE FINANCED THROUGH EXISTING
CREDIT
FACILITY
    * EXPECTS DEAL TO ADD ABOUT $1 MILLION IN REVENUE TO FY 2022
REVENUE GUIDANCE
    * EXPECTS DEAL TO BE ABOUT $0.10 TO $0.15 DILUTIVE TO
ADJUSTED
CASH EARNINGS PER SHARE IN 2022 AND 2023
    * EXPECTS DEAL TO BE ACCRETIVE AFTER 2022 AND 2023
    * NOW EXPECTS FULL-YEAR 2022 ADJUSTED EARNINGS PER SHARE OF
$3.25
TO $3.45
    * FY2022 EARNINGS PER SHARE VIEW $3.42, REVENUE VIEW $1.12
BILLION
-- REFINITIV IBES DATA

Source text for Eikon:  ID:nBw6FcR1Wa 
Further company coverage:  CNMD.N 

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