Anika Therapeutics ( (ANIK) ) has provided an announcement.
Anika Therapeutics has strategically shifted its focus by divesting Arthrosurface and planning to sell Parcus Medical, aiming to concentrate on its core hyaluronic acid technology and expanding Regenerative Solutions portfolio. The sale of Arthrosurface to Phoenix Brio was completed for $10 million, including a promissory note and potential sales-based consideration. Anika’s efforts are part of a broader strategy to streamline operations and enhance growth in the orthopedic market, estimated at $4 billion globally.
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