Generex Biotechnology Acquires Pantheon Medical Foot & Ankle

Generex Biotechnology Corporation is pleased to announce that the company has completed the acquisition of Pantheon Medical – Foot & Ankle, a manufacturer of specialty orthopedic surgery products and tools. Under the terms of the deal, Generex will acquire all of the assets of Pantheon Medical including business operations, accounts receivable and inventory, contracts, real estate, and an FDA letter related to balanced plating system, on a debt free basis, in a non-cash transaction with Generex (GNBT) stock, plus additional cash and stock consideration upon achieving certain sales and profit goals.
 
Pantheon Medical – Foot & Ankle is a multi-million dollar company that began operations in 2014 with a physician friendly, “all-in-one”, integrated kit that includes plates, screws, and tools required for orthopedic surgeons and podiatrists conducting foot and ankle surgeries. Over the next three years, the company will be developing and submitting several new product lines to the FDA, which will include cannulated surgical screws and surgical staples, as well as a proprietary Hammertoe System.
 
Travis H. Bird, CEO of Pantheon Medical said, “We have built Pantheon Medical with a commitment to providing our surgeon customers with the highest quality surgical implants and tools in an integrated surgical kit for foot and ankle surgeries. Our standard “All-in-One” kits provide surgeons with an integrated kit of the implants, plates, screws and clips to perform 80 percent of their surgeries, and the kits can be customized for physician preference, offering convenience and performance at an economic price. We expect that Generex and the NuGenerex MSO will benefit greatly from our partnership and we look forward to bringing our FDA-cleared line of surgical products to the network.”
 
“We are happy to close the acquisition of Pantheon as we expand our surgical product portfolio that is focused on providing our MSO network with the surgical implants and kits that they routinely utilize in their orthopedic and podiatric practices. Pantheon not only adds immediate revenues and profits to the NuGenerex family of companies, but also brings significant upside opportunities for new FDA-approved product introductions over the next several years,” stated Joe Moscato, CEO of Generex. “This acquisition once again demonstrates Generex’s commitment to providing end-to-end solutions that enhance physician’s practice and improve outcomes for patients.”