December 23, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — MiMedx Group, Inc. (MDXG – OTCBB), a maker of biomaterial-based products, said that it has signed a definitive agreement to acquire Surgical Biologics, a firm engaged in the development of tissue processing techniques for creating implants for a range of surgical indications from amnion membranes.

Privately-held Surgical Biologics was founded in early 2006 and is headquartered in Kennesaw, Georgia. Its proprietary tissue processing technology, Purion, produces an implant that the maker said is minimally manipulated. Surgical Biologics’ tissues are in over 30,000 implants.

MiMedx said that it expects the transaction to be accretive in 2011. The company reported that Surgical Biologics is projected to have 2010 revenues of around $2 million, and MiMedx projects the 2011 revenues to be generated from the Surgical Biologics processed tissue to be in the range of $7 million.

The transaction is subject to certain conditions to closing, which is scheduled to occur in early January 2011.

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