The Cook Group is selling Cook Biotech, a life sciences company based in West Lafayette, to RTI Surgical.
The sale, which Cook said in a Monday press release is part of its 5-year strategic plan, is expected to finalize late this month or early February.
According to the release, Cook Biotech is a pioneer in developing devices that “convert porcine tissue into a safe, regenerative xenograft biomaterial that physicians and surgeons believe in.” RTI specializes in allograft tissue processing and manufacturing.
“RTI Surgical is uniquely positioned to take what the team at Cook Biotech has created over the past 28 years and extend its impact around the world,” said Pete Yonkman, president of Cook Group and Cook Medical, in the release. “This agreement represents the best pathway forward for the products, employees, and patients. The rest of the Cook Group organization will not change ownership and will remain privately held.”
The approximately 275 Cook Biotech employees will become RTI employees. Cook Biotech accounts for less than 2% of Cook Group revenues.
Cook Group is a privately held company headquartered in Bloomington and founded in 1963.
