Local biotech companies complete key merger
ALACHUA — Two of the area's largest biotechnology companies officially joined forces Wednesday to become the second largest tissue implant manufacturer in the world. Shareholders of Regeneration Technologies Inc. and Tutogen Inc. approved a merger Wednesday to create RTI Biologics Inc. in a $205 million stock-for-stock deal.
The combined company has 750 employees, including more than 500 at Progress Corporate Park in Alachua, where the two companies are neighbors. Both had a combined $150 million in sales revenue and 30 percent growth over the last four quarters.
In addition to the Alachua facilities, Tutogen brings a manufacturing plant with 130 employees in Germany and a sales office in France. Regeneration Technologies brings 100 employees in marketing and donor recovery throughout the nation.
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