RTI Acquires Michigan-Based Pioneer Surgical Technology

Good news from Progress Corporate Park tenant RTI Biologics! RTI Biologics recently acquired a leading medical technology company. The combined company will remain in Alachua, but is expected to release a new name in the coming months. Progress Corporate Park continues to be a breeding ground for successful companies like RTI. We can't wait to see what the future brings for RTI and the other biotech companies in the park.

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By Caitlyn Finnegan | Business Report of North Central Florida

RTI Biologics announced Wednesday morning that it has acquired Pioneer Surgical Technology, a leading medical technology company based in Marquette, Mich.

RTI will pay $130 million in cash to acquire all of Pioneer’s outstanding stock, and the merger is still subject to customary closing conditions and regulatory approvals before closing in the third quarter of 2013. The acquisition will help biomedical-focused RTI position itself as a more diversified, global surgical implant company poised for growth in orthopedics and biologics.

By Caitlyn Finnegan | Gainesville Biz Report

“The combination of RTI and Pioneer is an exciting opportunity for both companies and their employees,” said Brian Hutchison, RTI president and CEO, in a statement Wednesday morning. “This acquisition is strongly aligned with RTI’s long-term strategic plan, accelerating new growth opportunities and gross margin expansion.”

Hutchison said Pioneer’s strong distribution network for implants will be beneficial when RTI launches its map3 cellular allogeneic bone graft later this year.

Pioneer manufactures and distributes synthetic and metal products in the spine, trauma, biologics and cardiothoracic markets.

RTI will remain in Alachua, and Brian Hutchison, RTI’s president and CEO, and Rob Jordheim, EVP and CFO, will retain their positions. The remainder of the executive management team will be comprised of current RTI management team members and some of the current Pioneer senior leadership.

The combined company will have 1,100 employees with manufacturing facilities in the United States and Germany and offices in the Netherlands. The new company is also expected to release a new name to reflect its expanded portfolio.

 

 

Virginia MacKoul

Virginia is a graduate from the University of Florida's College of Design Construction and Planning with a degree in Sustainability and the Built Environment, and a minor in Urban Regional Planning. Virginia joined the Front Street team in 2011, as an intern. Upon graduation, Virginia joined the Front Street team full-time as the Director of Client Services. Ms. MacKoul’s addition furthers Front Street’s continued growth and expansion within Gainesville and other North Central Florida markets. She was promoted to Director of Marketing in 2014 and now manages the firm’s team of interns and oversees all marketing and branding activity. Virginia was born in Boston and moved to Lee County, Florida in 1997. Virginia graduated her high school's International Baccalaureate program and started at the University of Florida with a focus on Architecture. Virginia shares Front Street's passion of giving back to the community and those in need. Virginia's hobbies include photography, cooking, football, movies, music, and spending time with her dog, Brinkley.

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