ExtraOrtho, a Memphis-based medical device company that received funding from Innova and TNInvestco, has been acquired by Zimmer Holdings, company officials announced.
The deal includes ExtraOrtho's external fixation line, XtraFix External Fixation System. Financial terms were not disclosed.
"This acquisition further enhances Zimmer's position in the vital and growing external bone-fixation market," said Jeff Paulsen, president of Zimmer Global Businesses of Warsaw, Ind. "The XtraFix technology is one of the most simple and effective solutions for external fixation, and we're confident that trauma care professionals will welcome this addition to Zimmer's comprehensive portfolio of external and internal fixation products."
The deal marks the first liquidation for Memphis-based Innova, as well as the first liquidation for any TNInvestco fund, said Ken Woody, president of Innova.
"This is nice validation of the program and Innova and it's nice that ExtraOrtho came out of local orthopedic talent," Woody said. "They built a great company based on innovative products."
Carrier Hall sold
Carrier Hall, a Central Gardens landmark located at 642 S. Willett, has sold for $1.28 million.
Listed in the National Register of Historic Places, the 1920s-era residence is said to be the only example of Jacobean Revival in Memphis.
The buyers are Lisa and Bill Courtney; the seller is Frank Uhlhorn. Bill Courtney owns Classic American Hardwoods; Uhlhorn heads Frank Uhlhorn Construction.
Courtney, a volunteer coach, also is a star in the documentary "Undefeated," a chronicle of student athletes at Manassas High School, scheduled for national release in February.
Linda Sowell of Sowell and Co. Realtors represented both the seller and the buyers.
The house was the venue for last year's Decorator Showhouse, a fundraiser presented by The Brooks Museum League.
At the time, the home was listed for nearly $1.5 million.
U of M honors Graesser
Dr. Art Graesser, professor of psychology and founding co-director of the Institute for Intelligent Systems at the University of Memphis, will receive the first Presidential Award for Lifetime Achievement in Research from the University of Memphis, the university announced Friday.
The award, which will be presented on Feb. 28, is described as the university's highest level of research recognition given to its faculty. It was established as part of the University's Centennial fundraising campaign in order to recognize the vital role and impact of research at the University of Memphis.
Top honor for inferno
Memphis-based inferno, a full-service advertising, marketing, design and public relations firm, was recently honored at the 2011 Davey Awards, an international creative awards program. Inferno took home a "Best in Show" honor for its work for the Recording Academy. The agency also received one Gold Award and five Silver Awards, which represent seven different clients in a broad array of categories.
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