Baxter to buy bone graft developer

Baxter International Inc. announced it would buy a London developer of next generation bone graft material for up to $330 million.

The Deerfield-based company said it will acquire outstanding equity of ApaTech, a privately held firm that makes synthetic bone repair materials for orthopedic and dental applications, as part of its business researching and developing bone graft technologies, the companies said in a joint press release this morning.

As a result of the acquisition, Baxter will acquire ACTIFUSE, a silicate substituted calcium phosphate synthetic bone graft material which is currently marketed in the United States, E.U., and other select markets around the world.

"This is a significant step in enhancing Baxter's position in the rapidly growing orthobiologics space, and our leadership in regenerative medicine," said Ron Lloyd, vice president and general manager of Baxter’s biotherapeutics and regenerative medicine business.