MiMedx to divest bone graft unit just 18 months after buying it
Citing a lack of fit with its recently-announced transition into a biopharma company, USA-based regenerative medicine company MiMedx (Nasdaq: MDXG) has announced the divestment of Stability Biologics, a unit which it acquired only in early 2016.
MiMedx’s share price closed 2.5% up on Friday at $16.52 following the announcement that the company has signed a definitive agreement with the former stockholders of Stability to divest the subsidiary back to them.
"We expect better return on investment opportunities in biopharma compared to the cadaver tissue category"
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