Orthofix International NV (Lewisville, TX,) entered into an option agreement that provides the company with an 18-month option to acquire eNeura Inc (Baltimore, MD), a maker of portable, non-invasive Transcranial Magnetic Stimulation (TMS) devices for the treatment of migraine headache. In May 2014, eNeura received FDA (Silver Spring, MD) 510k clearance for its SpringTMS migraine treatment device. In consideration for the option to acquire eNeura, Orthofix has agreed to provide a $15 million collateralized loan to support commercialization of SpringTMS in the U.S. and Europe. If the option to purchase eNeura is exercised, Orthofix will pay $65 million to consummate the merger and eNeura will repay to Orthofix the unpaid principal payable under the loan. In addition, Orthofix may make future milestone and royalty payments to eNeura.
Market Pulse transactions shown herein are provided as a matter of public record. These transactions have been compiled from press releases, corporate announcements and other public sources to provide an overview of acquisition and merger activities within the healthcare and life sciences sectors.