01 Sep Stratatech acquisition becomes final; jobs will stay in Madison
By Judy Newman, Madison.com
Stratatech Corp., whose human skin tissue products are used to heal severe burns, is now part of Mallinckrodt Pharmaceuticals, based in the United Kingdom.
The acquisition was completed Wednesday; terms were not disclosed. But Stratatech will remain in Madison and will keep all of its 55 jobs, CEO and founder Lynn Allen-Hoffmann told the Wisconsin State Journal.
“We are staying here in Madison,” said Allen-Hoffmann, who will continue to lead the local operation. “It’s been a fabulous journey and we’re still on it.”
In her first interview since the acquisition was announced nearly three weeks ago, Allen-Hoffmann talked about the future of Stratatech, and she said several companies were vying to buy the Madison biotech this year.
Mallinckrodt, which already sells its products to hospitals and burn centers, is “a fabulous fit,” she said. Read more …