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Strategic Initiatives

Pantheon Medical Foot & Ankle, Medisource to be Acquired -

Generex Biotechnology entered into letters of intent to acquire Pantheon MedicalFoot & Ankle, manufacturer of the FDA-cleared Balanced Plating System, and distributor Medisource Partners. For Pantheon, Generex will pay US $1.4MM in Generex stock, plus additional cash and stock consideration upon completion of sales and profit milestones. Terms include all assets of Pantheon (e.g. business operations, accounts receivable and inventory, contracts and an FDA letter related to the balanced plating system). The company's “all-in-one” integrated kit includes plates, screws and tools for foot/ankle procedures. Over the next three years, Pantheon will submit new lines to FDA including cannulated screws and staples, as well as a proprietary hammertoe system. Additionally, Generex signed an LOI to acquire Medisource Partners for $1MM in stock plus potential milestone payments. Medisource is contracted with over 25 vendors (including Pantheon Medical) for U.S. distribution of implants and devices for spine, hips, knees, foot, ankle, hand and wrist surgeries. Both transactions are expected to close in coming weeks. Generex describes itself as an integrated healthcare holding company providing support to physicians, including orthopaedic surgeons, through a Management Services Organization network (MSO). This acquisition represents the company's entry into the surgical field; a wholly-owned distribution subsidiary integrates the MSO with a pharmacy network, clinical diagnostic lab, durable medical equipment company and a call center call center focused on patient education and satisfaction. (Generex Biotechnology Corp., 1/9/19 and 1/10/19)