Out of 26 million Texans, you may have an idea to change the world. You may have had several ideas to change the world. But only a tiny minority of you pushed through the U.S. Patent office from application to successful patent. We've seen Texans change the world many times over. Jack Kilby did it with Texas Instruments in 1958 with the integrated circuit, causing the start of the digital revolution, which, in part, is why you can read these words over your electronic device.
Over the last few years, Texas Business has brought its feature: Texas Business Patent of the Day. This list is of the ones that were either extremely clever, odd or strange. One thing becomes apparent from these patents and the patent that runs daily in Texas Business—Texans have a unique mind set.
Though the history of the Corn Dog is disputed, the State Fair of Texas claims to have introduced the Corny Dog sometime between 1938 and 1942. As a paean to that invention that now sits in the freezer section of every grocery store in the southwest, here are the fried foods the State Fair of Texas has introduced, or tried to introduce, in the last seven years.
Don't get caught up with John Wayne religion. For one thing, he's not Texan. He's in some fine movies involving Texas, most notably The Searchers, but none of his movies can make the best cut of Texas movies. Here's the short list.
Unsung Texas Business Journalists Mention that one is a reporter, and there's a spark of interest. Mention that one is a business news reporter, and watch the eyes glaze over. Except to the players, business and economic journalists are unappreciated. While many wish to become sports reporters when they grow up, most do not realize that business journalists cover the Real Game. Mention that reporter covers business, and watch the eyes glaze over. A toast to these below on the short list and the numerous unnamed ones slogging away. Full Story » TexasBusiness.com
Best Texas Mexican Food: The Short List No, we're not going to debate the difference between Tex-Mex, Mex-Tex, Mexican and Texican food. Just know these establishments are the pinnacle of Texas Mexican fare. No brag, just fact. Full Story » TexasBusiness.com
Best Texas Burgers Texas Burgers. . While a hamburger is merely sustenance and gratification for a meal, the memory a good Texas burger can give rise to Homeric odes. The short list. Full Story » TexasBusiness.com
Texas Business reports: LEWISVILLE—Orthofix International NV reached an agreement under which Water Street Healthcare Partners, a strategic private equity firm focused on the health care industry, will acquire Orthofix's Sports Medicine Business Unit, which operates as Breg Inc.
The purchase price is $157.5 million and is payable in cash at closing, which is expected to occur during the second fiscal quarter of 2012.
Net proceeds to Orthofix from the sale are anticipated to be approximately $140 million, which will be used for the prepayment of debt as required by Orthofix's existing credit agreement.
The company acquired its Sports Medicine business in 2003 with the purchase of Breg, which is headquartered in Carlsbad, California. The sports medicine business provides a portfolio of bracing and cold therapy products to treat a variety of sports medicine related conditions.
“With the divestiture of the sports medicine business, we are now able to devote Orthofix's full resources and attention to strengthening our value proposition around our repair hardware and regenerative biologics and stimulation solutions,” said chief executive Robert Vaters in a prepared statement. “We believe this deleveraging event and resulting borrowing capacity will allow us to expand and enhance both our spine and orthopedic business units in a way that accelerates our ability to create shareholder value.”
“We are pleased that Orthofix has entrusted Water Street to grow Breg,” said Water Street partner Chris Sweeney in a statement. “We see tremendous opportunity to build on Breg's leadership position and create greater long-term value in the organization. We will leverage our team's deep medical products knowledge, extensive operating experience and network of relationships to strategically expand Breg's innovative products and global presence.”
Upon closing, the company will file the required pro forma financial results reflecting the disposition following the consummation of the sale transaction with the Securities and Exchange Commission, including any impact of pre-closing liabilities the Company will retain. J.P. Morgan Securities LLC provided a fairness opinion to the board of directors related to the transaction.
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