Wound Management buys out remaining 50% stake in Cellerate

Wound Management Technologies (OTC:WNDM) said yesterday that it closed a deal to acquire the remaining 50% stake in the Cellerate joint venture it launched last September with The Catalyst Group.

Prior to the acquisition, Wound Management Technologies and The Catalyst Group’s CGI Cellerate RX affiliate had owned equal shares in the spun-out company.

The Cellerate JV maintains an exclusive sublicense to distribute the CellerateRX activated collagen adjuvant into wound care markets in the U.S., Canada and Mexico.

Fort Worth, Texas.-based Wound Management Tech said that Cellerate will now act as a wholly owned subsidiary and will report its financial results on a consolidated basis beginning March 15.

The deal was funded by the issuance of approximately 1.1 million shares of Wound Management Tech’s Series F convertible preferred stock, the company said. Each share of Series F preferred stock can be converted at any time into 200 shares of common stock, according to an SEC filing.

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